Narnolia Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement under Regulation 18(12) in terms of SEBI (SAST) Regulations, 2011 to the ....
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Narnolia Financial Services, the Manager to the Offer, has submitted the Post Offer Advertisement to BSE for the completed Open Offer of Shashank Traders Limited. The offer was for acquisition of 15,46,900 equity shares (50% of voting capital) at Rs. 30 per share, totaling Rs. 4.64 crore in size. The offer opened on February 9, 2026 and closed on February 23, 2026, with consideration paid on March 10, 2026. Against the offer size, public shareholders tendered 10,45,961 shares (about 68% of the offer), resulting in actual acquisition of Rs. 3.14 crore worth of shares. The Acquirers (AVB Endeavors Pvt Ltd, Prilika Enterprises Pvt Ltd, and Mr. Aditya Vikram Birla) held 26.65% before the offer and now hold 60.46% post-offer, gaining majority control of the company. Public shareholding has correspondingly reduced to 39.54% from 73.35%.
This filing confirms the completion of a successful open offer that has resulted in a change of control, with the Acquirers now holding over 60% of Shashank Traders Limited. Shareholders who tendered have received Rs. 30 per share in cash. Remaining public shareholders now hold a minority stake in a company with concentrated ownership, which may affect liquidity and future corporate decisions.