Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of corrigendum to the Draft Letter of Offer ("Second Corrigendum") for the attention of Public Shareholders ....
Awaiting price reaction for this filing.
Saffron Capital Advisors, the manager to the open offer, has submitted a Second Corrigendum to the Draft Letter of Offer for the mandatory open offer on Shamrock Industrial Company Ltd. A group of four acquirers — Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijaykumar Harish, and Rattan Kapoor — are looking to buy up to 14,11,388 equity shares (about 26% of the company) from public shareholders at ₹16.40 per share, totaling roughly ₹2.31 crore. The offer has been triggered because the acquirers are entering into a Share Purchase Agreement with the existing promoter group (Khokhani family) that will give them around 30.15% stake, crossing the SEBI open-offer threshold. The corrigendum was published on September 18, 2025 in Financial Express, Janasatta, and Pratahakal (Mumbai). It primarily rectifies details in the Background of the Offer, shareholding patterns, and clarifies terms relating to the underlying preferential issue of the target.
Public shareholders now have a clear floor price (₹16.40) at which they can tender shares and exit if they wish. The acquirers' purchase of the promoter stake means a change in control is underway, which could lead to fresh management direction for this small-cap stock — worth tracking for any strategic shifts post-acquisition.