The Exchange has received the disclosure under Regulation 18(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sumit Bansal & Others
Awaiting price reaction for this filing.
Four acquirers — Sumit Bansal, Vikkas Bansal, Tarun Jain, and Varun Jindal — collectively acquired 41,88,549 equity shares (68.51%) of Classic Filaments Ltd through an off-market deal at Rs. 10 per share on December 9, 2025. The acquisition was executed under a Share Purchase Agreement dated October 24, 2025, which was the underlying transaction for an Open Offer of up to 15,89,471 shares (26%) of the company. The shares were purchased from existing promoters — Bharat Patel, Amit Patel, Jayanti Gaudani, and Ajay Gaudani. Post-acquisition, the acquirers hold 68.51% of the company, with each holding between 8.64% and 25.03%. Before this transaction, the acquirers held 0% in the company, marking a complete change in control.
This is a change-of-control transaction that effectively makes the four acquirers the new promoters of Classic Filaments Ltd, owning more than two-thirds of the company. The Open Offer window for public shareholders has already lapsed (post-Regulation 22(2) execution), so minority investors have limited exit opportunity at the Rs. 10 deal price. Stock may see thin liquidity and re-rating risk going forward.