Open offer at Rs 12 per share for 26% stake in Mahan Industries

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Open offer filed to acquire 20.02 lakh shares (26% stake) of Mahan Industries at Rs 12 per share, totaling about Rs 2.40 crore. Triggered by preferential allotment of 32 lakh shares and 2.16 crore warrants to acquirers Nishil Shah and Niranjankumar Jain, plus purchase of 52,169 shares from promoter Yogendrakumar Gupta. Both acquirers are current directors at Mahan. Post-deal they will hold about 68% and become new promoters. Listing will continue.

Likely market impact

Acquirers already on board become new promoters holding about 68%. Public shareholders can tender at Rs 12 in the open offer. Listing continues.