Kunvarji Finstock Private Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Noble Polymers Ltd ("Target Company").
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Mr. Mahesh Alabhai Odedra and Mr. Hiren Rambhai Odedra (Acquirers) have filed a Draft Letter of Offer with BSE to acquire up to 22,76,406 equity shares representing 26% of the Emerging Voting Share Capital of Noble Polymers Ltd. The offer price is Rs. 5 per share payable in cash. This mandatory open offer is triggered under SEBI (SAST) Regulations 2011 because the Acquirers are subscribing to 22,76,400 equity shares via preferential allotment, which will make them promoters and grant them control over the company. Additionally, Acquirer-1 will subscribe to 60,00,000 convertible warrants. The offer opens on July 8, 2026 and closes on July 21, 2026. The Acquirers' post-offer shareholding (assuming full acceptance) will be 52% of the company.
This open offer indicates a change in control of Noble Polymers Ltd, with the Acquirers set to become new promoters. Shareholders should note the offer price of Rs. 5 per share and the timelines for participation.