Kunvarji Finstock Private Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) and other ....
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Kunvarji Finstock Private Limited, as Manager to the Offer, has submitted a Public Announcement on behalf of two acquirers (Mr. Mahesh Alabhai Odedra and his cousin Mr. Hiren Rambhai Odedra) for an open offer to acquire up to 22,76,406 equity shares representing 26% of Noble Polymers Limited. This mandatory offer is triggered under SEBI (SAST) Regulations following the Board approval on May 14, 2026 for preferential allotment of 22,76,400 equity shares plus 2,34,75,735 convertible warrants to the acquirers and non-promoters at ₹5 per share. The total offer consideration amounts to ₹1,13,82,030 payable in cash. After the transaction, the acquirers will hold 52% of the company (51.99% by Acquirer-1 and 0.01% by Acquirer-2). The company had previously faced suspension since 2018, with trading revived in 2025 after SAT intervention.
Existing public shareholders have the option to tender shares at ₹5 per share, though the acquirers will gain control with 52% holding post-transaction. The minimum 25% public shareholding will be maintained as required by SEBI regulations.