Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13(1), 14 and 15(1) of the ....
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Mr. Sesha Sai Nikhil Chintalapati (Acquirer) is making a mandatory Open Offer for up to 13,11,362 equity shares (26.00%) of Neelkanth Rockminerals Ltd at ₹19.40 per share, totalling ₹2.54 crore. This follows a Share Purchase Agreement signed on June 06, 2026, under which the Acquirer will buy 31,29,951 shares (62.06%) from seven existing promoters for ₹6.07 crore, also at ₹19.40 per share. The deal will result in a complete change of control, with the Acquirer becoming the new promoter and the current promoters being reclassified as public shareholders. The Detailed Public Statement (DPS) is expected to be published on or before June 12, 2026. Neelkanth is listed only on BSE (Scrip Code: 531049), and the Acquirer has stated no intention to delist the company.
Public shareholders can tender their shares at ₹19.40 during the offer period. The change of control to a single individual acquirer may bring uncertainty about future direction but also potential for new strategic initiatives. The stock may see some activity around the offer price as a reference point.