Submission of Draft Letter Of Offer received from the Manager to the Offer on November 10, 2025
Awaiting price reaction for this filing.
Classic Filaments Ltd has received the Draft Letter of Offer for a mandatory open offer triggered by a change in control of the company. Four acquirers — Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal — have signed a Share Purchase Agreement on October 24, 2025 to buy 41,88,549 equity shares (68.51% of paid-up capital) from the existing promoters at Rs. 10 per share, totalling about Rs. 4.19 crore. As this crosses the SEBI takeover threshold, the acquirers are now making a mandatory open offer to public shareholders for an additional 15,89,471 shares (26% of paid-up capital) at Rs. 12 per share, amounting to about Rs. 1.91 crore. If fully accepted, the acquirers will hold 94.51% of the company, becoming the new promoters and triggering a change in management and control. The tendering period for public shareholders will run from December 17, 2025 to December 31, 2025, with payment to be made in cash within 10 working days of closure.
Public shareholders of Classic Filaments can sell their shares at Rs. 12 per share during the tendering period. The open offer price (Rs. 12) is at a 20% premium over the price paid to existing promoters (Rs. 10). Post-offer, the company will undergo a complete change of control and management, and the acquirers have committed to restoring minimum public shareholding (25%) within 12 months if it falls below the required threshold.