Intimation of withdrawal of Open Offer by Acquirers
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Awaiting price reaction for this filing.
Shyamkamal Investments Ltd informed the stock exchange that the open offer for its shares has been officially withdrawn by the acquirers. The offer, originally announced on February 25, 2025, by Morabia Enterprise Private Limited and Mr. Mahendra Harjivan Morabia (along with persons acting in concert), was for up to 1,30,94,380 equity shares representing 26% of the company's voting capital. The withdrawal was carried out under Regulation 23 of the SEBI Takeover Regulations, 2011, and newspaper advertisements were published in Financial Express, Jansatta, and Pratahkal on December 8, 2025. Merchant banker AFCO Capital India Private Limited handled the withdrawal process.
For shareholders, the planned open offer at a previously announced price will no longer go through, meaning they won't get the exit opportunity that the offer would have provided. The stock may see some short-term pressure as any premium expectations linked to the takeover bid disappear.