Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1), Regulation 4 read with Regulation 15(1) and Regulation ....
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The Jalan family (Ankit Jalan and Anuj Jalan, along with six persons acting in concert) has triggered a mandatory open offer to acquire up to 1,49,76,000 equity shares (26% of expanded share capital) of BSE-listed Sanmitra Commercial Limited (scrip code 512062) at Rs. 15 per share, totalling about Rs. 22.46 crores in cash. The offer follows two underlying transactions on August 29, 2025: a preferential allotment of over 3.18 crore shares to the acquirers and a Share Purchase Agreement with existing promoter Prakash Bhoorchand Shah for 4,74,350 shares. A notable feature is a share swap — Sanmitra will issue shares worth Rs. 4,461.27 lakhs to acquire 1.21 crore shares of Tandhan Polyplast Limited (promoted by the acquirers) at Rs. 15 each. Post-transaction, the acquirers and PACs will collectively hold 69.73% of Sanmitra's expanded capital, making them classified promoters.
Public shareholders of Sanmitra Commercial can tender their shares at Rs. 15 each during the tendering window — a clear exit opportunity at a fixed price. The transaction signals a change of control and a group restructuring involving Tandhan Polyplast Limited, which could affect liquidity and minority shareholder relevance going forward.