Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer ("DLOF") for the attention of the Public Shareholders of Shantai Industries ....
Awaiting price reaction for this filing.
Saffron Capital Advisors, acting as Manager to the Open Offer, has filed the Draft Letter of Offer with BSE for a mandatory open offer to the public shareholders of Shantai Industries Ltd. The offer is triggered by a Share Purchase Agreement dated February 13, 2026, under which a group of five acquirers — Radhe Dhokla Private Limited along with four individuals — are buying 55,80,000 shares (74.40% of voting capital) from existing promoters at ₹11.50 per share, resulting in a change of control. The open offer is for up to 19,20,000 equity shares (25.60% of voting capital) at ₹21 per share, aggregating up to ₹4.03 crore in cash. The offer opens on April 16, 2026 and closes on April 29, 2026.
Public shareholders can tender their shares at ₹21 each during the offer window, which represents a significant premium over the ₹11.50 negotiated sale price under the SPA. The open offer signals a change of control and may lead to short-term price volatility in the stock; shareholders should review the recommendations of the independent directors' committee before deciding to tender.