Narnolia Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) and 4 read with Regulation 13, 14 and 15(1) of the Securities ....
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AVB Endeavors Pvt Ltd, Prilika Enterprises Pvt Ltd, and Mr. Aditya Vikram Birla (the Acquirers) have entered into a Share Purchase Agreement (SPA) dated November 7, 2025 with existing shareholder Mr. Praveen Jaswant Rai Jain to buy 8,24,600 equity shares (26.65% of paid-up capital) of Shashank Traders Ltd at ₹30 per share, aggregating ₹2.47 crore. As this triggers SEBI takeover regulations, the Acquirers have also made a mandatory open offer to public shareholders to buy up to 15,46,900 shares (another 50% of total capital) at the same price of ₹30 per share, taking the total open offer size to about ₹4.64 crore if fully tendered. The Acquirers have stated no intention to delist the company, and the offer is not conditional on minimum acceptance. Narnolia Financial Services is acting as Manager to the Offer. Shashank Traders is listed on BSE (scrip 540221) with suspended trading status on Calcutta Stock Exchange.
Existing public shareholders can tender their shares at ₹30 each until the offer window closes — a meaningful floor price if the stock has been trading below this level on BSE. The Acquirers will gain control of the company post-completion, which could lead to board and management changes, though delisting is not planned.