Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer advertisement to the Equity Shareholders of Shah Foods Ltd ("Target Company").
Awaiting price reaction for this filing.
Navigant Corporate Advisors, acting as Manager to the Offer, submitted the Post Offer Advertisement to BSE for an open offer to acquire up to 60,61,900 equity shares (26% of capital) of Shah Foods Ltd at Rs. 62.50 per share. The offer was made by Mr. Ankit Jalan and Mr. Anuj Jalan along with the Jalan family entities as Persons Acting in Concert. Despite the open offer running from May 13 to May 26, 2026, zero shares were tendered by public shareholders. The acquirers had already secured 69.39% stake via Share Purchase Agreement and preferential allotment on March 27, 2026, giving them effective control without needing the open offer. Post-offer, public shareholding stands at 30.61% (71,37,124 shares) while Jalan family controls 69.39%.
For retail shareholders, the Jalan family now holds commanding control of Shah Foods with 69.39% stake, and the open offer received no response, signalling either that shareholders found the Rs. 62.50 offer unattractive or already exited via the preferential route. Expect reduced public liquidity and minority shareholders now have less negotiating power in the stock.