Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of Western Ministil Ltd ("Target Company").
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Awaiting price reaction for this filing.
Western Ministil Ltd has filed a Post Offer Advertisement with BSE following the close of an open offer by Mr. Kalpesh Patel and Mrs. Vandana Patel to acquire up to 33,80,000 equity shares (26% of expanded capital) at Rs. 10 per share. The offer opened on February 18, 2026 and closed on March 5, 2026, with payment scheduled for March 20, 2026. Only 69,273 shares were tendered by public shareholders, far below the 33.8 lakh shares on offer, meaning just Rs. 6.92 lakh of the Rs. 3.38 crore total offer size was actually subscribed. The acquirers had already picked up 80,00,000 shares (61.54%) through a preferential allotment, and post-offer their holding stands at 80,69,273 shares or 62.07% of the expanded equity. Public shareholding has consequently dropped sharply from 37.93% to 12.46%.
The open offer was very poorly subscribed, signalling weak investor interest or dissatisfaction with the Rs. 10 offer price. The acquirers have nonetheless secured clear majority control of the company, which may limit liquidity and influence pricing for remaining public shareholders going forward.