Submission of Letter of Offer
Awaiting price reaction for this filing.
Classic Filaments Ltd has submitted the Letter of Offer for a mandatory Open Offer triggered by a change in control and management of the company. A group of four acquirers – Sumit Bansal, Vikkas Bansal, Tarun Jain and Varun Jindal – entered into a Share Purchase Agreement on October 24, 2025 to buy 41,88,549 shares (68.51% stake) from existing promoters at Rs. 10 per share (total Rs. 4.19 crore), and have already completed this acquisition on December 9, 2025. Following this, they are making a mandatory open offer to public shareholders for an additional 15,89,471 shares (26% stake) at Rs. 12 per share, aggregating to Rs. 1.91 crore. The tendering period runs from February 11, 2026 to February 25, 2026, and there is no competing offer.
Shareholders should note that the Open Offer price of Rs. 12 is significantly below the prevailing market price of Rs. 46 per share, so tendering may not be financially attractive. The acquirers have already taken management control, meaning changes in the board and business direction of Classic Filaments are imminent.