Narnolia Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Draft Letter of Offer dated March 27, 2026 for the attention of the Equity Shareholders ....
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Narnolia Financial Services Ltd, acting as Manager to the Offer, submitted a Corrigendum to the Draft Letter of Offer for Nilachal Refractories Limited (Target Company) to BSE and Calcutta Stock Exchange. The corrigendum was published on April 15, 2026 in compliance with SEBI (SAST) Regulations, 2011. This indicates an acquirer is making an open offer to public shareholders to acquire their equity shares. The document contains updated terms, conditions, and schedule details for the open offer, which was originally triggered when the acquirer acquired a substantial stake in the company.
This is an open offer event under SEBI takeover regulations, providing existing shareholders an opportunity to exit at the offer price. The corrigendum may indicate changes to offer terms or timeline, which could impact the stock's near-term movement as the takeover process unfolds.