Rarever Financial Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulation 13, 14 and 15(1) and other ....
Awaiting price reaction for this filing.
Tirupati Agrotech Private Limited (acquirer), held by Ms. Priyanshi Patel and Ms. Vedanshee Patel, has signed a Share Purchase Agreement on April 20, 2026, to buy 21,99,755 equity shares (73.11%) of Jindal Leasefin Limited from its existing promoters and promoter group entities at Rs. 18 per share, aggregating to about Rs. 3.96 crore. Following this acquisition, the acquirer has triggered a mandatory Open Offer for an additional 7,82,314 shares (26% of voting capital) from public shareholders, also at Rs. 18 per share, taking the total cash outflow (if fully tendered) to around Rs. 1.41 crore under the open offer plus the Rs. 3.96 crore for the SPA. Post-transaction, the acquirer's holding could rise to 99.11% of the paid-up share capital, making it the new promoter. The acquirer has stated it does not intend to delist the company, and the offer is managed by Rarever Financial Advisors Private Limited.
This is a change-of-control deal — existing promoters are exiting completely and Tirupati Agrotech will become the new promoter of Jindal Leasefin. Public shareholders can tender their shares at Rs. 18 each during the open offer window. The share price could be negatively impacted if public shareholding falls below the mandatory 25% minimum threshold after the offer.