Srujan Alpha Capital Advisors LLP ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer ("LOF") to the Public Shareholders of RSC International Ltd ("Target Company").
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Srujan Alpha Capital Advisors LLP, the manager to the open offer, has submitted the Letter of Offer to BSE for an open offer to the public shareholders of R S C International Limited. The offer is being made by Mr. Shailesh Agrawal and Mr. Ramji Das Agarwal (collectively the Acquirers) to acquire up to 14,94,922 equity shares (26% of voting capital) at ₹9.50 per share, for a total consideration of ₹1.42 crore assuming full acceptance. This is a triggered mandatory open offer following a Share Purchase Agreement signed on January 20, 2025, where the Acquirers agreed to buy 21,30,678 shares (37.06%) from existing promoters at the same ₹9.50 price for ₹2.02 crore. The existing promoter group (Mr. Ankur Jain, Mrs. Alka Jain, Mr. Gyan Chand Jain, and Mascot Fashions Pvt Ltd) is exiting, and the Acquirers will become new promoters of the company. The offer opens on June 17, 2025 and closes on July 1, 2025. Post-transaction, public shareholding will stand at 36.95%, satisfying minimum public shareholding norms.
This signals a change of control at RSC International with the existing promoter group exiting entirely. Shareholders can tender shares at the ₹9.50 offer price during the tendering window; shares tendered will be subject to lock-in until settlement and cannot be traded. The market price may move closer to or above the offer price in the lead-up to the tendering period.