Bonanza Portfolio Limited ("Manager to the Offer") has submitted to BSE a copy of Public Announcement ("PA") under Regulation 15(1) of Securities and Exchange Board of India (Substantial ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mr. Amit Jain and Mr. Hanissh Jaain (the Acquirers) have signed a Share Purchase Agreement on September 4, 2025 to buy 23,17,343 equity shares (52.21% of voting capital) of Shentracon Chemicals Ltd from seven promoter-group sellers at ₹0.50 per share, totaling about ₹11.59 lakhs. As this crosses the SEBI takeover threshold, a mandatory open offer has been triggered for an additional 11,53,917 shares (26%) from public shareholders, also at ₹0.50 per share, with total open offer consideration of roughly ₹5.77 lakhs. The Acquirers, who currently hold no shares, will become the new promoters of the company after the deal closes. The company will remain listed on BSE and the Calcutta Stock Exchange, and no delisting is proposed.
Public shareholders can tender their shares in the open offer at ₹0.50 per share, but the offer price is far below the ₹10 face value, suggesting the stock is trading at distressed levels or the company is very thinly valued. The change of control to new promoters may bring strategic shifts, though the very small deal size and low price indicate this is largely a change-of-hands event rather than a value-accretive transaction for existing public investors.