Swaraj Shares and Securities Private Limited ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Letter of Offer and the Pre-offer public announcement in terms of ....
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M/s Atibha Agriseeds Private Limited (Acquirer) is making an Open Offer to buy up to 3,90,000 shares (26.00% of voting capital) of Chemo Pharma Laboratories Limited from public shareholders at ₹110.00 per share, totaling up to ₹4.29 crore. This offer follows a Share Purchase Agreement dated February 18, 2025, under which the Acquirer is buying 4,18,281 shares (27.89%) from existing promoters — Citric India Limited and Mrs. Shanta Somani — at ₹100.00 per share. The corrigendum, filed by Swaraj Shares and Securities (Manager to the Offer), updates disclosure on historical non-compliances with SEBI (SAST) Regulations by the target company's promoters. The revised tendering period is now Thursday, May 22, 2025 to Wednesday, June 4, 2025.
Public shareholders of Chemo Pharma can tender shares during the revised window at ₹110/share, offering a 10% premium over the negotiated promoter sale price of ₹100. The promoter's track record of SEBI non-compliance may be a concern for investors evaluating the target company's governance.