Kunvarji Finstock Private Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulations 13(4), 14(3) and 15(1) of Securities and Exchange ....
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Mr. Mahesh Alabhai Odedra and Mr. Hiren Rambhai Odedra (cousins) are making a mandatory Open Offer to acquire up to 22,76,406 equity shares (26% of emerging voting share capital) of Noble Polymers Limited at ₹5 per share in cash. The maximum offer consideration is ₹1.14 crore. The offer was triggered following a preferential allotment of 22,76,400 equity shares (₹5 each) and 60,00,000 convertible warrants to the acquirers, approved by the board on May 14, 2026. Upon completion, the acquirers will hold 52% of the company and be classified as promoters. The target company had no promoters previously and all shares were held by public shareholders. Financial arrangements include ₹1.14 crore deposited in escrow with Kotak Mahindra Bank, exceeding 100% of offer consideration. The offer period runs from July 8 to July 21, 2026.
This is a mandatory open offer triggered by a preferential acquisition resulting in change of control. Existing public shareholders can tender at ₹5 per share. Post-offer, the acquirers will become promoters holding 52% stake, bringing new management to the company.