intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 regarding approval of open offer received from SEBI
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shyamkamal Investments Ltd informed BSE that SEBI has approved the Draft Letter of Offer for an open offer to acquire 1,30,94,380 equity shares, representing 26% of the company's fully paid-up equity share capital (face value Rs. 10 each). The acquirers are Morabia Enterprise Private Limited and Mr. Mahendra Harajivan Morabia, along with several persons acting in concert including family members, VR Leading Edge Consultancy LLP, and Morabia Creations Private Limited. The open offer is being made under SEBI's Takeover Regulations, 2011. While SEBI approval is now in place, the actual dispatch of the Letter of Offer and opening of the tendering period remain conditional on receipt of RBI approval, which is still pending. AFCO Capital India Private Limited is acting as the merchant banker for the transaction.
This indicates a potential change in control/ownership of Shyamkamal Investments, with the Morabia group seeking a significant 26% stake. Existing shareholders will get an opportunity to tender their shares at the open offer price once RBI approval comes through and the Letter of Offer is dispatched, typically within 7 working days thereafter. The stock may see heightened activity as the offer progresses.