Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Simandhar Impex Ltd ("Target Company").
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Simandhar Impex Ltd (BSE: 544662) is the target of a mandatory open offer triggered under SEBI Takeover Regulations. Acquirer Farmico International Private Limited has signed a Share Purchase Agreement on January 14, 2026 to buy 22,81,615 shares (74.64% stake) from the existing promoter group at Rs. 30 per share, totalling about Rs. 6.84 crore. Following this, a mandatory open offer is being made for an additional 7,75,310 shares (25.36% of voting capital) from public shareholders, also at Rs. 30 per share. The offer opens on March 12, 2026 and closes on March 27, 2026. Post the deal, the acquirer will hold 100% of the company with control, and the existing promoters will cease to be classified as promoters. Farmico International is a newly incorporated entity (October 2025) promoted by Chandraprakash Wadhwani and intends to retain the stock listing.
This is a change-of-control transaction for Simandhar Impex — the entire promoter group is exiting and a new acquirer is taking over. Public shareholders have a clear exit window at Rs. 30 per share, though the offer size of ~Rs. 2.33 crore is modest. Shareholders should watch for the independent directors' recommendation and compare the offer price to prevailing market price before deciding to tender.