Fintellectual Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Pankaj Polymers ....
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Fintellectual Corporate Advisors, acting as Manager to the Offer, has filed the Draft Letter of Offer with BSE for a mandatory open offer in Pankaj Polymers Limited (BSE Scrip: 531280). The offer is triggered by a Share Purchase Agreement dated January 14, 2026, under which four acquirers - Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar, and Mr. Himanshu Arora - are buying 32,23,627 equity shares (58.15% of voting capital) from existing promoters at ₹20 per share, aggregating ₹6.44 crore. Following this transaction, the acquirers will take over as new promoters with management control. Under SEBI Takeover Regulations, they are now offering to buy up to 14,41,414 additional shares (26% of voting capital) from public shareholders at ₹40 per share, payable in cash. The public announcement was made on January 14, 2026, with the tentative tendering period from March 12 to March 27, 2026.
This is a change-of-control transaction for shareholders of Pankaj Polymers. Public shareholders can tender their shares at ₹40 per share during the tendering window or choose to remain invested. Note that post-offer, public shareholding may fall below the mandatory 25% threshold, which could affect trading; acquirers have committed to restoring minimum public shareholding within prescribed timelines.