Arco Leasing Issues Revised Outcome Correcting Allottee Names in Rs. 10.61 Crore Issue

Arco Leasing Limited has issued a revised outcome of its Board meeting held on March 13, 2026, specifically to correct the names of certain proposed allottees in its Rs. 10,61,35,000 preferential issue. The revision, submitted on March 18, 2026, ensures alignment with KYC records while maintaining all other previously disclosed details unchanged.

Revision Scope and Clarifications

The company clarified that the revision is limited exclusively to name corrections of proposed allottees as per their respective KYC records. The management confirmed three key aspects remain unchanged:

Parameter:	Status
Number of Equity Shares:	No change (106,13,500 shares)
Identity/Category of Allottees:	No change
Other Disclosures:	All remain unchanged
Issue Size:	Rs. 10,61,35,000

Corrected Allottee Names

The revised disclosure includes corrections for several key investors in the preferential issue. Notable name corrections include:

Original Name:	Corrected Name (as per KYC)
Atul Jaiswal:	Atul Ramshankar Jaiswal
Sandhya Dhomeja:	Sandhya Rani Dhomeja
Jaishankar Raja:	Jaishankar R Raja
Yogesh Shah:	Yogesh Jagdishchandra Shah
Lokesh Jain & HUF:	Lokesh Devendra Kothari HUF

The revision covers 19 proposed allottees in total, with some names remaining identical to their original disclosure while others received specific corrections to match KYC documentation.

Original Preferential Issue Structure

The preferential issue maintains its original structure approved during the March 13, 2026 board meeting. The issue comprises 106,13,500 equity shares at Rs. 10.00 per share, targeting both proposed promoter and non-promoter categories. Major allocations include Jitesh Kothari and Atul Ramshankar Jaiswal (now with corrected name) as proposed promoters, who will collectively hold approximately 73.26% of post-issue shareholding.

Regulatory Compliance

The revised outcome was submitted under Regulation 30 of SEBI (LODR) Regulations, 2015, and signed by Rajendra Mahavirprasad Ruia, Whole-Time Director (DIN: 01300823). The company emphasized that this revision serves purely administrative purposes to ensure accuracy and regulatory compliance, without affecting the fundamental structure or commercial terms of the preferential issue.

The implementation of the preferential issue continues to remain subject to approvals from company members, BSE Limited, and the Registrar of Companies as applicable under current regulations.

Arco Leasing Limited has received formal intimation from JJ IPO Advisors Private Limited regarding the public announcement for a mandatory open offer by two individual acquirers. The announcement, dated March 13, 2026, confirms the acquisition of 27,74,970 equity shares representing 25.57% of the expanded voting share capital at ₹10.00 per share.

Official Notification and Regulatory Compliance

Mr. Rajendra Mahavirprasad Ruia, Whole Time Director of Arco Leasing Limited, formally notified BSE Limited about receiving the public announcement from JJ IPO Advisors Private Limited. The manager has been appointed on behalf of Mr. Jitesh Kothari (Acquirer 1) and Mr. Atul Jaiswal (Acquirer 2) to conduct the open offer in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Parameter:	Details
Offer Size:	27,74,970 equity shares
Offer Price:	₹10.00 per share
Stake Percentage:	25.57% of expanded voting capital
Total Consideration:	₹2,77,49,700.00
Payment Mode:	Cash

Underlying Transaction Structure

The open offer has been triggered by two underlying transactions executed on March 13, 2026. The first involves a Share Purchase Agreement for acquiring 1,28,600 existing shares from selling promoter shareholders at ₹6.00 per share, totaling ₹7,71,600.00. The second comprises a Share Subscription Agreement for 79,50,000 new equity shares at ₹10.00 per share, aggregating ₹7,95,00,000.00.

Transaction Details:	Share Purchase	Share Subscription
Number of Shares:	1,28,600	79,50,000
Price per Share:	₹6.00	₹10.00
Total Value:	₹7,71,600.00	₹7,95,00,000.00
Voting Capital %:	1.18%	73.25%

Acquirer Details and Shareholding Distribution

Both acquirers are 33-year-old Mumbai residents who will jointly control the company upon completion. Mr. Jitesh Kothari, residing in Kandivali West, will acquire 54,26,785 shares representing 50.00% of the expanded voting capital. Mr. Atul Jaiswal, based in Borivali West, will similarly acquire 54,26,785 shares for an equal 50.00% stake.

The existing promoter group, including the Ruia family members and associated LLPs, will completely exit their shareholding through the Share Purchase Agreement. Ten selling promoter shareholders are transferring their combined 1,28,600 shares, representing 1.18% of the expanded voting capital.

Regulatory Requirements and Timeline

The transaction requires approval from the Reserve Bank of India due to the change in control of the NBFC and its subsidiary, Ansu Trade & Fiscals Private Limited. JJ IPO Advisors Private Limited, registered with SEBI under number INM000013253, serves as the manager to the open offer.

The detailed public statement will be published within five working days, by March 23, 2026, in national and regional newspapers as mandated by SEBI regulations. The offer is not conditional on minimum acceptance levels and does not involve any delisting intentions for the BSE-listed company.

Post-Transaction Corporate Structure

Upon successful completion, the acquirers will assume complete control and apply for reclassification as promoters under SEBI regulations. The existing promoters will cease their association and apply for declassification from the promoter and promoter group categories. The company will maintain its listing status on BSE Limited under scrip code 511038, with the acquirers committed to ensuring compliance with minimum public shareholding requirements within the prescribed timeline.