Swaraj Shares and Securities Private Limited ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Chemo Pharma Laboratories Ltd ("Target Company").
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Swaraj Shares and Securities Pvt Ltd, Manager to the Offer, submitted the Letter of Offer to BSE for an open offer to public shareholders of Chemo Pharma Laboratories Ltd. Acquirer Atibha Agriseeds Pvt Ltd will buy up to 3,90,000 shares (26.00% of voting capital) at ₹110 per share, for a maximum consideration of ₹4.29 crore. The open offer was triggered by a Share Purchase Agreement dated February 18, 2025, under which Atibha Agriseeds agreed to buy 4,18,281 shares (27.89%) from existing promoters Citric India Ltd and Mrs. Shanta Somani at ₹100 per share, totaling ₹4.18 crore, leading to a change in control. The tendering period runs from May 22, 2025 to June 4, 2025.
Public shareholders of Chemo Pharma Laboratories can tender their shares at ₹110 per share in cash between May 22 and June 4, 2025. The offer price is 10% above the negotiated promoter deal price of ₹100, and the acquisition will result in a change of control and management of the listed target company.