Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of offer opening public announcement under Regulation 18(7) of the SEBI (SAST) Regulations, 2011 ....
Awaiting price reaction for this filing.
A mandatory open offer has been triggered by 5 acquirers (led by Radhe Dhokla Private Limited and 4 individuals) to purchase up to 19,20,000 equity shares of Shantai Industries Ltd at Rs 21 per share in cash, totaling approximately Rs 4.03 crore. This represents 25.60% of the voting share capital. The offer is mandatory under SEBI (SAST) Regulations due to a substantial acquisition. The Independent Directors Committee has recommended shareholders accept the offer as fair and reasonable. Notably, the offer price of Rs 21 is significantly below the current market price of Rs 102.01 per share. The tendering period runs from May 26, 2026 to June 9, 2026.
The large discount between the offer price (Rs 21) and market price (Rs 102) makes shareholder acceptance unlikely unless the acquirers can justify the valuation. This open offer is triggered by regulatory requirements rather than a friendly takeover.