VC Corporate Advisors Private Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Classic Filaments Ltd ("Target Company").
Awaiting price reaction for this filing.
Four individual acquirers — Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal — are buying 41,88,549 equity shares (68.51% of paid-up capital) from the existing promoters at Rs. 10 per share in cash, totalling about Rs. 4.19 crore, under a Share Purchase Agreement signed on October 24, 2025. Because this triggers a change of control, a mandatory open offer is being made to public shareholders for an additional 15,89,471 shares (26% of capital) at Rs. 12 per share, totalling around Rs. 1.91 crore in cash, under SEBI Takeover Regulations. The tendering period will run from December 17, 2025 to December 31, 2025. Post-offer, the acquirers will hold 94.51% of the company, becoming new promoters and triggering the minimum public shareholding norm that they must remedy within 12 months. The Draft Letter of Offer has been submitted to SEBI and a copy filed with BSE by the manager, VC Corporate Advisors Private Limited.
Existing promoters are exiting completely, leading to a full change of control of the company. Public shareholders get a cash exit opportunity at Rs. 12 per share; the price may see short-term movement around the open offer window based on acceptance levels and any price revision.