Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement fo the attention of the Equity Shareholders of Sanmitra Commercial Ltd ....
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Navigant Corporate Advisors Ltd, acting as Manager to the Offer, has submitted the Detailed Public Statement (DPS) for a mandatory open offer to the public shareholders of Sanmitra Commercial Ltd (BSE: 512062, ZSANMCOM). The offer is by Mr. Ankit Jalan and Mr. Anuj Jalan (Acquirers) along with six persons acting in concert (all Jalan family members) under SEBI (SAST) Regulations 2011. The open offer is for 1,49,76,000 equity shares (26% of expanded share capital) at Rs. 15 per share, amounting to a maximum consideration of Rs. 22.46 crores. The trigger is a change in control via a Share Purchase Agreement (buying 4,74,350 shares from the current promoter Prakash Bhoorchand Shah) plus a large preferential allotment of 3,18,66,799 shares (64.02%), partly in kind against acquisition of Tandhan Polyplast Limited shares. Post-offer, the Acquirers and PACs will hold 95.73% of the expanded share capital. The offer opens on October 27, 2025 and closes on November 10, 2025. Notably, Sanmitra has nil revenue and its shares are infrequently traded (annualized turnover 0.09%).
Public shareholders of Sanmitra Commercial Ltd can tender their shares at Rs. 15 each during the October 27 to November 10, 2025 window. The offer price (Rs. 15) is close to the fair value of Rs. 14.17 certified by the independent valuer. The Jalan family will take full control of the company, and post-offer public shareholding will fall below the mandatory 25%, prompting compliance with minimum public shareholding norms. For shareholders of Tandhan Polyplast Ltd, the in-kind acquisition of TPL shares by the acquirers is part of this broader restructuring.