Srujan Alpha Capital Advisors LLP ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) and 4 read with Regulation 13, 14 and 15(1) of Securities ....
Awaiting price reaction for this filing.
Mr. Neerav Bairagi (Acquirer) has signed a Share Purchase Agreement dated December 4, 2025 with current promoter Mr. Atul Kumar Mishra to buy 84,80,331 equity shares (36.62% of voting capital) at ₹4.20 per share, aggregating to about ₹3.56 crores. This underlying deal triggers a mandatory open offer under SEBI Takeover Regulations for an additional 60,21,053 shares (26%) from public shareholders at ₹5.30 per share, totalling about ₹3.19 crores. Once the deal closes, the Acquirer will become the new promoter of JMG Corporation and the existing promoter will exit completely with zero shareholding. The Acquirer has clarified there is no intention to delist the company, and Srujan Alpha Capital Advisors LLP is managing the offer.
Public shareholders can tender shares at ₹5.30 during the tendering period (dates to be announced in the Detailed Public Statement). The open offer price is at a premium to the underlying SPA price of ₹4.20, offering an exit opportunity. Expect short-term price action and volatility around the offer window, followed by a change in promoter and management control.