Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public announcement under Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) of Securities ....
Awaiting price reaction for this filing.
Four acquirers — Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijayakumar Harish and Rattan Kapoor — have triggered a mandatory open offer for up to 36,30,190 equity shares (26% of Emerging Voting Share Capital) of Shamrock Industrial Company Ltd at ₹16.40 per share, aggregating up to ₹5.95 crore in cash. The offer follows a Share Purchase Agreement to buy 16,36,899 shares (11.72%) from existing promoter-sellers at the same ₹16.40 price, and a board-approved preferential allotment of 58,74,801 equity shares (42.08%) and 76,02,284 Optionally Convertible Debentures to the acquirers. After these underlying transactions, the acquirers will collectively hold 53.80% of the emerging voting share capital and become the new promoters, replacing the existing Khokhani-family promoter group which will fall below 10%. The detailed public statement is expected by June 5, 2025. Notably, the target company's shares are currently trading under BSE's Graded Surveillance Measure (GSM) Stage 3.
Public shareholders will get an opportunity to tender shares at a fixed cash price of ₹16.40; the offer signals a complete change of control with new promoters taking over. Existing promoter-sellers will exit, and the stock remains under GSM Stage 3 surveillance, so liquidity and price discovery may remain constrained.