Narnolia Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer and Corrigendum to the Letter of Offer for the attention of the Equity Shareholders ....
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AVB Endeavors Private Limited, Prilika Enterprises Private Limited, and Mr. Aditya Vikram Birla (collectively the Acquirers) have triggered a mandatory open offer to acquire up to 15,46,900 equity shares (50% of voting capital) of Shashank Traders Ltd from public shareholders at ₹30 per share, aggregating to ₹4.64 crore. This follows a Share Purchase Agreement signed on November 7, 2025 with the existing promoter Praveen Jaswant Rai Jain to purchase 8,24,600 shares (26.65%) at the same ₹30 price. Post-offer, the Acquirers will hold 76.65% of the company, resulting in a complete change of control and management. The open offer window runs from February 9, 2026 to February 24, 2026, managed by Narnolia Financial Services Limited.
This is a change-of-control event for Shashank Traders Ltd. Public shareholders can tender their shares at ₹30 during the offer window. Post-offer, the new promoters plan to explore diversification into new business segments, which could reshape the company's future direction. The stock price may see volatility around the tendering period as shareholders weigh the offer price against market value.