Classic Filaments Limited has announced a major ownership restructuring that will see four new acquirers take control of 68.51% of the company's equity capital. The transaction involves the acquisition of 41,88,549 equity shares from existing promoters through a Share Purchase Agreement, marking a significant change in the company's promoter structure.

Acquisition Details

The acquirers - Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal - have entered into agreements with four existing promoter shareholders. The transaction details are structured as follows:

Regulatory Compliance Framework

The transaction is being conducted in accordance with Regulation 31A(5) and 31A(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Upon successful completion of the open offer, the four acquirers will be classified as new promoters of the company, while the existing promoters and related persons will be reclassified under the public category.

Promoter Reclassification Conditions

The company has received undertakings from erstwhile promoters confirming compliance with specific regulatory conditions. Under Clause (b) of sub-regulation (3) of Regulation 31A, the promoters seeking reclassification have committed to several restrictions:

• Not holding more than 10% of total voting rights collectively
• Not exercising control over company affairs directly or indirectly
• Having no special rights through formal or informal arrangements
• Not being represented on the board of directors
• Not acting as key managerial personnel
• Not being classified as wilful defaulters or fugitive economic offenders

Company Compliance Status

As part of the reclassification process, Classic Filaments Limited has confirmed compliance with additional regulatory requirements. The company has verified that trading in its shares is not suspended by stock exchanges and that there are no outstanding dues to SEBI, stock exchanges, or depositories.

Corporate Communication

The formal intimation was communicated to BSE Limited on March 18, 2026, by Mr. Bharat Patel, Director and CFO of Classic Filaments Limited. The communication was made pursuant to the company's listing obligations and ensures transparency in the ownership transition process. This development represents a significant milestone in the company's corporate governance structure and ownership pattern.

Classic Filaments Limited's open offer concluded with an unexpectedly low response from public shareholders, with only one equity share tendered against the target of 15,89,471 shares. The offer, which closed on February 25, 2026, was made by four acquirers at Rs. 12/- per equity share.

BSE Filing and Regulatory Compliance

On March 18, 2026, Classic Filaments Limited filed the newspaper publication of post-offer advertisement with BSE Limited under script code 540310. The filing was submitted by Director and Chief Financial Officer Bharat Patel (DIN: 00249234), confirming compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Open Offer Details and Response

The open offer was initiated by Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal, collectively seeking to acquire up to 15,89,471 equity shares representing 26.00% of Classic Filaments Limited's total paid-up equity and voting share capital. VC Corporate Advisors Private Limited served as the manager to the offer, while Skyline Financial Services Private Limited acted as the registrar.

Share Purchase Agreement Transaction

Prior to the open offer, the acquirers successfully completed a significant acquisition through a Share Purchase Agreement (SPA) dated October 24, 2025. The transaction was consummated on December 09, 2025, enabling the acquirers to collectively acquire 41,88,549 equity shares at Rs. 12/- per share, aggregating to Rs. 4,18,85,490/-.

Promoter Change and Shareholding Structure

Following the completion of the underlying transaction, the four acquirers have become the new promoters of Classic Filaments Limited, while the existing promoters will cease to hold promoter status and be reclassified according to SEBI regulations. The consideration payment for the open offer was completed on March 12, 2026.

The post-offer advertisement was published on March 17, 2026, in compliance with regulatory requirements. The advertisement appeared in Financial Express (English), Jansatta (Hindi), Pratapkali (Marathi), and Ahmedabad Express (Gujarati) editions, ensuring comprehensive disclosure to stakeholders across different linguistic regions. The public shareholding structure shows a significant change, with public shareholders now holding 19,24,800 shares (31.49% of the total paid-up equity share capital) compared to the pre-offer position.