Open Offer of Western Ministil Limited
Price
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Awaiting price reaction for this filing.
Western Ministil Ltd informed BSE that its Committee of Independent Directors (CID) reviewed the ongoing Open Offer and concluded it is fair and reasonable. The offer is by Mr. Kalpesh Patel and Mrs. Vandana Patel to acquire up to 33,80,000 fully paid-up equity shares at Rs. 10 per share, representing 26% of the expanded share capital. The offer followed a Public Announcement on November 26, 2025, Detailed Public Statement on December 3, 2025, and Letter of Offer dated February 5, 2026. The CID meeting was held on February 13, 2026.
The CID's fair-and-reasonable recommendation removes a key hurdle for the acquirers and is a positive procedural step for the open offer to proceed. For existing shareholders, the Rs. 10 offer price sits at face value, so the deal is unlikely to attract tendering unless expectations of a higher price remain. A successful takeover could lead to changes in management and board composition.