Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of Sanmitra Commercial Ltd ("Target Company").
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Navigant Corporate Advisors Ltd has submitted the Post Offer Advertisement for Sanmitra Commercial Ltd to BSE. The open offer was made by Ankit Jalan and Anuj Jalan (Acquirers) along with six family members acting as Persons Acting in Concert (PACs), to buy up to 1,49,76,000 equity shares (26% of expanded capital) at Rs. 15 per share, for a total offer size of Rs. 22.46 crore. The offer opened on January 6, 2026 and closed on January 20, 2026. In a striking result, the open offer was massively undersubscribed — only 41,100 shares were tendered by public shareholders against the target of nearly 1.5 crore shares, meaning the Jalan family acquired just Rs. 6.16 lakh worth of shares instead of the planned Rs. 22.46 crore. After accounting for shares already acquired via Share Purchase Agreement and a preferential allotment (4,01,66,149 shares or 69.74%), the Jalan family's total holding post-offer stands at 4,02,07,249 shares, or 69.81% of the fully diluted equity, effectively giving them controlling stake in the company.
The Jalan family has secured control of Sanmitra Commercial Ltd with a ~70% stake, but the dismal response to the open offer (only 0.27% of target shares tendered) signals very weak public interest and may indicate the offer price of Rs. 15 was unattractive to shareholders. With public shareholding reduced to 30.19% post-offer, trading liquidity in the stock could become thin going forward.