Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Shantai Industries Ltd ("Target Company").
Awaiting price reaction for this filing.
Saffron Capital Advisors, as Manager to the Open Offer, has submitted the Letter of Offer for a mandatory open offer by Radhe Dhokla Private Limited (Acquirer 1) and four individuals (Acquirers 2–5) to acquire up to 19,20,000 equity shares representing 25.60% of Shantai Industries Limited's voting capital. The offer price is ₹21 per share, aggregating to ₹4.03 crore. This open offer is triggered under SEBI (SAST) Regulations due to an underlying Share Purchase Agreement where the Acquirers agreed to purchase 55,80,000 shares (74.40%) from the existing promoters (Disha Murli Sawlani and family) at ₹11.50 per share, resulting in a change of control. The tendering period is May 26 to June 9, 2026. The current market price is ₹102.01, significantly above the offer price of ₹21.
This represents a complete change of control from the existing Sawlani family promoters to the Pandav family group. The offer price of ₹21 is deeply discounted to the market price of ₹102, which may attract shareholder participation but also signals urgency to exit at the offered price.