Newspaper Cutting of Pre-Offer Advertisement cum Corrigendum to the Detailed Public Statement and draft Letter of Offer
Awaiting price reaction for this filing.
AVI Polymers Ltd has received the Pre-Offer Advertisement cum Corrigendum published on July 11, 2025, related to the open offer by Rootsparkle Trading Private Limited (Acquirer) for 10,63,582 equity shares (26% of share capital) at ₹13.00 per share, payable in cash. The Acquirer has already deposited ₹1.38 crore (100% of offer consideration) in an escrow account with IndusInd Bank and completed the acquisition of 10,29,500 shares via Share Purchase Agreement on June 03, 2025. The selling promoters have resigned from the board and new directors (Chintan Patel as MD, Pankaj Thakkar as Non-Executive Director) were appointed on April 18, 2025. The Independent Directors Committee has deemed the offer price fair and reasonable. The tendering period is from July 14, 2025 to July 25, 2025.
This represents a change of control/management event for retail shareholders, with an open offer at ₹13.00 per share. Public shareholders should evaluate whether to tender their shares during the July 14–25, 2025 window or hold, given the IDC has found the offer price fair and reasonable. Post-offer, Rootsparkle Trading will become the new promoter of the company.