Fintellectual Corporate Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement ("PA") under Regulation 3(1) and Regulation 4 read with Regulation ....
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Awaiting price reaction for this filing.
Four individuals — Sandeep Jain, Vikas Garg, Rahul Nagar, and Himanshu Arora — have entered into a Share Purchase Agreement on January 14, 2026 to buy 32,23,627 equity shares (58.15% of voting capital) from the existing promoters of Pankaj Polymers Ltd at ₹20 per share, aggregating ₹6.45 crores. Following this underlying transaction, a mandatory open offer has been triggered under SEBI Takeover Regulations for an additional 14,41,414 equity shares (26% of voting capital) from public shareholders at ₹40 per share, amounting to a total offer size of ₹5.77 crores. Post-transaction, the four acquirers will collectively hold 58.15% in Pankaj Polymers Ltd, which is listed on BSE. The Detailed Public Statement is expected to be published by January 21, 2026.
This is a change-of-control event where the existing promoter group is fully exiting (their holding drops to nil). Public shareholders get an opportunity to tender shares at ₹40 (double the negotiated promoter sale price of ₹20). The stock may see price movement toward the offer price as the open offer window approaches.