Corporate Professionals Capital Pvt Ltd ("Manager to the Offer''") has submitted to BSE a copy of Draft Letter of Offer to the public shareholders of Ador Multiproducts Ltd ("Target Company").
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Corporate Professionals Capital, acting as Manager to the Offer, has submitted a Draft Letter of Offer to BSE for a triggered/mandatory open offer to acquire up to 24,85,858 equity shares (26% of expanded share capital) of Ador Multiproducts Ltd (AML) at INR 31.41 per share in cash, totalling about INR 7.81 crore. The offer was triggered by a Share Purchase Agreement by Thrive Future Habitats Infra Pvt Ltd (Acquirer 4) to buy 16,57,820 shares from existing promoters at INR 7 per share, combined with a preferential allotment of 48,87,356 shares to Acquirers 1 and 2 at INR 31.41 per share. The acquirers are Mr. Arvinder Singh Pasricha (founder of TCNS Clothing Co. / W for Woman), his daughter Ms. Zinnia Pasricha, his other daughter Mrs. Aman Pasricha Balsara, and Thrive Future Habitats Infra Pvt Ltd, with Mr. Tushar Rohinton Balsara as Person Acting in Concert. Post-offer, the acquirer group's holding in AML will rise to 98.49% of the expanded share capital, triggering a reduction of public shareholding below the 25% minimum. The offer opens on May 21, 2025 and closes on June 3, 2025.
This is a change-of-control deal for Ador Multiproducts Ltd shareholders, who can tender shares at INR 31.41 in cash during the May 21 to June 3, 2025 window. Post-completion, existing promoters exit, acquirers take full control, and the company plans to diversify into real estate and construction activities. No competing offer has emerged, and the offer is not subject to a minimum acceptance condition.