Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Offer Opening Public Announcement to the Shareholders of Western Ministil Ltd ("Target Company").
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Navigant Corporate Advisors Ltd, on behalf of Mr. Kalpesh Patel and Mrs. Vandana Patel (the Acquirers), has submitted a Pre-Offer Advertisement to BSE for an open offer to acquire up to 33,80,000 equity shares (26% of expanded capital) of Western Ministil Ltd at Rs. 10.00 per share. The offer size totals about Rs. 3.38 crore, with the Acquirers having deposited Rs. 340 Lakhs in escrow (over 100% of consideration). The Independent Directors Committee found the offer price justified, and no competitive bid has emerged. The offer opens on February 18, 2026 and closes on March 5, 2026. The Acquirers have already been appointed to the Board of Western Ministil effective February 9, 2026, following a preferential allotment of shares and warrants on February 16, 2026.
Shareholders can tender their shares at Rs. 10 per share during the Feb 18 – Mar 5, 2026 window. The offer price equals the face value, which is unusually low and suggests limited premium being offered, so investors should assess the share's prevailing market price and long-term prospects before deciding to tender.