Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulations 3(1) and 4 read with Regulations 13(4), 14(3) ....
Awaiting price reaction for this filing.
Saffron Capital Advisors Pvt Ltd, acting as manager to the open offer, has submitted the Detailed Public Statement (DPS) to BSE for Shantai Industries Ltd (Scrip Code: 512297). Five acquirers — Radhe Dhokla Pvt Ltd and four individuals from the Pandav family — are making a mandatory open offer to acquire up to 19,20,000 equity shares (25.60% of voting capital) at ₹21 per share, aggregating up to ₹4.03 crore. The offer is triggered under SEBI Takeover Regulations following a share purchase agreement with existing promoters (the Sawlani family). Shantai Industries is a Surat-based company engaged in manufacturing and trading of yarn (domestic and exports). The open offer opens for subscription in due course.
Public shareholders of Shantai Industries can tender their shares at ₹21 each during the offer period. The offer price sets a floor for the stock in the near term. Existing promoter group is undergoing a change of control, with control shifting from the Sawlani family to the Pandav family/Radhe Dhokla Pvt Ltd.