Interactive Financial Services Limited ("Manager to the Offer") has submitted to BSE a copy of Public Announcement ("PA") under Regulation 3(1) and 4 read with Regulations 13(1), 14 and ....
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Kaushik Jagannath Joshi (Acquirer) along with 4 PACs (family members) has announced a mandatory open offer to acquire up to 3,39,68,300 equity shares (50% of paid-up capital) of Trio Mercantile & Trading Limited at Rs. 1.25 per share. The total offer consideration is Rs. 4.25 crore (assuming full acceptance). This offer was triggered by a Share Purchase Agreement dated May 26, 2026 to purchase 32,66,558 shares (4.81%) from promoter Hiren Shantilal Kothari at Rs. 1.00 per share. Post-offer, the acquirer group may hold up to 61.44% voting capital. The offer is not conditional on minimum acceptance and payment will be in cash.
This open offer gives existing shareholders an exit opportunity at Rs. 1.25 per share. The acquisition, if successful, will result in a change of control with the acquirer group holding majority stake. The stock may see increased volatility due to the takeover activity.