Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you that the Company is in receipt of letter of offer in relation ....
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SBEC Sugar Limited has received the Letter of Offer for a mandatory open offer under SEBI's Takeover Regulations. The acquirer, SBEC Systems (India) Limited, along with six persons acting in concert (including the Modi family entities and individuals), is offering to buy up to 1,23,90,009 equity shares (26% of voting capital) from public shareholders. The offer price is ₹21.19 per share, revised upward from ₹21.00 to include 10% per annum interest as directed by the Supreme Court (March 4, 2025 order) for the delay since September 16, 2014. The total deal size is approximately ₹26.25 crore. The underlying trigger is the conversion of loans into equity shares, and the tendering window will run from October 28, 2025 to November 12, 2025.
Public shareholders can tender their shares during the offer window to exit at ₹21.19 per share in cash. The offer is not conditional on minimum acceptance, and the acquirer is likely the existing promoter group, meaning no change of control at the company level. Shareholders should compare the offer price with the prevailing market price before deciding to tender.