Narnolia Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement for the attention of the Equity Shareholders of Shashank Traders Ltd ("Target ....
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AYB Endeavors Private Limited, Prilika Enterprises Private Limited, and Mr. Aditya Vikram Birla (together the 'Acquirers') have made an open offer to buy 15,46,900 equity shares of Shashank Traders Limited at ₹30.00 per share, totaling about ₹4.64 crore. The offer represents 26% of the company's equity capital on a fully diluted basis. The acquirers have already entered into a Share Purchase Agreement (SPA) on November 7, 2025, with promoter Praveen Jaswant Rai Jain to buy 8,24,600 shares (26.65%), which triggered this mandatory open offer under SEBI Takeover Regulations. Post-offer, the acquirers will collectively hold 76.65% of the company. The offer opens on December 31, 2025 and closes on January 14, 2026. Shashank Traders is listed on BSE (Scrip: 540221); its listing on Calcutta Stock Exchange (CSE) is currently suspended.
Existing public shareholders can tender their shares at ₹30.00 per share during the tendering period. The open offer provides a potential exit opportunity, though the offer price should be compared with prevailing market price. Post-offer, promoter group holding will reduce to zero and the acquirer group will control over 76% of the company, which may reduce trading liquidity for remaining public shareholders.