We have received a copy of the Detailed Public Statement published in newspaper from Srujan Alpha Capital Advisors LLP (Lead Manager to the Issue), in connection with the open offer made ....
Awaiting price reaction for this filing.
JMG Corporation Limited has informed BSE about a Detailed Public Statement published on December 11, 2025, by Srujan Alpha Capital Advisors LLP (Manager to the Offer) in connection with a mandatory open offer by acquirer Mr. Neerav Bairagi. The offer is for up to 60,21,053 equity shares (26% of voting share capital) at ₹5.30 per share, totaling ₹3.19 crore assuming full acceptance. The trigger is a Share Purchase Agreement dated December 04, 2025, under which Mr. Bairagi will buy 84,80,331 shares (36.62%) from existing promoter Mr. Atul Kumar Mishra at ₹4.20 per share (₹3.56 crore). Post-offer, the acquirer will hold 62.62% of the company and take over control. The acquirer, a textile sector entrepreneur with ₹1,084.47 lakhs net worth, plans to expand JMG's operations into textile trading alongside its existing green energy consulting business. The stock is currently under BSE's Graded Surveillance Measures (GSM) Stage 2.
This is a change-of-control event for shareholders. Public shareholders can tender shares at the guaranteed offer price of ₹5.30, which is above the SPA price of ₹4.20. Expect short-term price support near the offer price, but the GSM Stage 2 status signals existing trading concerns. Post-acquisition, the company's strategic direction may shift toward textile trading.