Bonanza Portfolio Limited ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Shareholders of Shentracon Chemicals Ltd ("Target Company").
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Bonanza Portfolio Limited has submitted the Draft Letter of Offer to BSE on behalf of acquirers Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain, who are making a mandatory open offer for Shentracon Chemicals Ltd. The acquirers already signed a Share Purchase Agreement on September 4, 2025 to buy 23,17,343 shares (52.22% of voting capital) from existing promoters at ₹0.50 per share, totaling ₹11.58 lakh. As required by SEBI SAST Regulations, they are now offering to buy an additional 11,53,917 shares (26% of voting capital) from public shareholders at the same price of ₹0.50 per share, for a maximum total consideration of ₹5.77 lakh. The offer triggers a change in management control. The tendering period is scheduled from October 31, 2025 to November 14, 2025. Public shareholders should note the acquirers have no prior experience in the chemicals sector.
Existing public shareholders can tender their shares at ₹0.50 per share during the offer window, but the very low offer price (well below the ₹10 face value) signals a deeply discounted transaction typical of stressed/small-cap companies. Shareholders should evaluate the market price versus the offer price before deciding, and note that post-offer the company will see a complete change in promoter group and management.