Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for attention to the Shareholders of Simandhar Impex Ltd ("Target Company").
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Farmico International Private Limited has made a mandatory open offer to acquire up to 25.36% (7,75,310 shares) of Simandhar Impex Ltd at Rs. 30 per share. This offer was triggered after Farmico signed a Share Purchase Agreement to buy 74.64% stake (22,81,615 shares) from the existing Vora family promoters at the same price of Rs. 30 per share, totaling Rs. 6.84 crore. The acquirer, incorporated in October 2025, aims to gain control of the listed company and may diversify its business activities using the listing platform. The offer opens on April 20, 2026 and closes on May 4, 2026. Upon full acceptance, Farmico will own 100% of Simandhar Impex.
Existing shareholders can tender their shares at Rs. 30 per share (25.36% of voting capital). The open offer is unconditional but subject to regulatory compliance. After completion, the company may see a change in management and business direction, with potential delisting risk if public shareholding falls below the required 25%.