Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement for the attention of the Equity Shareholders of Simandhar Impex Ltd ("Target ....
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Farmico International Private Limited (promoted by Chandraprakash Wadhwani) has triggered a mandatory open offer to acquire up to 7,75,310 equity shares (25.36% of voting capital) of Simandhar Impex Ltd at Rs. 30 per share, implying a maximum open offer value of about Rs. 2.33 crore. The open offer follows a Share Purchase Agreement signed on January 14, 2026 under which the existing promoters and promoter group (7 seller entities led by Prashant Vora) will sell 22,81,615 shares (74.64%) to Farmico at the same Rs. 30 price. Post-offer, Farmico will own 100% of the company and gain effective management control, with stated plans to reconstitute the board. The Detailed Public Statement was published on January 22, 2026; the offer is scheduled to open on March 12, 2026 and close on March 27, 2026. The target is a small Mumbai-based bullion, gold and jewellery trading company whose shares are infrequently traded on BSE, with a fair value of Rs. 27.55 per share certified by a registered valuer.
Public shareholders can tender their shares at Rs. 30 cash, which is at a modest premium to the certified fair value of Rs. 27.55. After completion, Farmico will become the sole owner with full control, the promoter group will fully exit, and the board is likely to be reconstituted; no asset sale or restructuring is planned in the next two years.