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.

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.

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.