Open offer at Rs 150/share for Shankara Building Products by promoter group
SHANKARA · price
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Shankara Building Products' promoter group, led by Ballygunge Family Trust and MD Sukumar Srinivas, has filed a Draft Letter of Offer for an open offer at Rs 150 per share. The offer covers up to 63,04,825 shares (26 percent of paid-up capital), lifting promoter holding from 49.52 percent to 75.52 percent. This is a delayed mandatory offer to fix past SEBI takeover rule non-compliance. The offer opens September 7 and closes September 21, 2026.
Shareholders can tender shares at Rs 150 between Sept 7 to Sept 21, 2026. Promoter stake will rise to 75.52 percent, reducing public shareholding and possible delisting risk.