Bonanza Portfolio Limited ("Manager to the Offer") has submitted to BSE a copy of Pre-offer advertisement and corrigendum to the detail public statement, in accordance with Regulation 18(7) ....
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Awaiting price reaction for this filing.
Two acquirers, Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain, have launched an Open Offer to buy 11,53,917 equity shares (26% of paid-up capital) of Shentracon Chemicals Ltd from public shareholders at ₹0.50 per share. Bonanza Portfolio Ltd is acting as the Manager to the Offer. The current filing is a regulatory submission of the Pre-Open Offer Advertisement and a corrigendum to the Detailed Public Statement, as required under Regulation 18(7) of SEBI (SAST) Regulations. The corrigendum has been published in Financial Express (Mumbai) and Duranta Barta (Kolkata) editions.
An open offer has been formally triggered, indicating a likely change in control of Shentracon Chemicals. The extremely low offer price of ₹0.50 per share may be unfavorable for public shareholders and suggests the acquirers are consolidating ownership at a deep discount.