Interactive Financial Services Limited ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement (DPS) in terms of Regulation 13(4), 14(3) and 15(2) of the Securities ....
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Kaushik Jagannath Joshi (Acquirer) along with four persons acting in concert (PACs) — Amita, Krishna, Radhika Joshi and Joshi Kaushikkumar Jagannath HUF — has triggered a mandatory open offer to buy up to 3,39,68,300 equity shares of Trio Mercantile & Trading Ltd, representing 50.00% of the company's paid-up capital. The offer price is ₹1.25 per share against a face value of ₹2. The open offer has been triggered under SEBI (SAST) Regulations 2011 (Regulations 3(1) and 4) after the Acquirer entered a Share Purchase Agreement on May 26, 2026 to acquire a 4.81% stake from existing shareholder Hiren Shantilal Kothari. Interactive Financial Services Limited has been appointed as Manager to the Offer and has submitted the Detailed Public Statement to BSE, which was also published in Financial Express, Jansatta, and Navshakti on May 31, 2026.
Existing shareholders of Trio Mercantile & Trading Ltd now have the option to tender their shares in the open offer at ₹1.25 each. Given that the offer price is below the ₹2 face value, shareholders should carefully evaluate whether the open offer price represents fair value relative to market/traded prices before deciding to tender or hold.