Sobhagya Capital Options Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Filtron Engineers Ltd ("Target Company").
Awaiting price reaction for this filing.
Filtron Engineers Ltd is the target of a mandatory open offer by Mr. Tarak Bipinchandra Gor and Mr. Jayesh Sheshmal Rawal (the Acquirers), which will trigger a change of control. Under two Share Purchase Agreements dated August 27, 2025, the Acquirers will buy 13,68,250 equity shares (52.29% of existing capital) from current promoters at ₹7 per share. Consequently, the Acquirers have launched an open offer for up to 1,65,14,290 shares (26% of voting capital) from public shareholders at ₹10 per share in cash, under SEBI (SAST) Regulations. The offer opens on October 23, 2025 and closes on November 7, 2025. The company has also approved a preferential issue of 6.09 crore shares at ₹10 each, including 4.5 crore shares issued to the Acquirers as part-consideration for acquiring 100% of Gabrielle Infra Speciality Private Limited (GISPL).
Public shareholders can tender their shares at ₹10 per share during the offer window (Oct 23 – Nov 7, 2025). The transaction involves a change of control and a major preferential allotment that will dilute existing public shareholding significantly, so shareholders should weigh the offer price against likely post-event stock behavior.