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.

Classic filaments Limited has received a demand notice of ₹1.98 crore from the Income Tax Department, Surat, as disclosed in its regulatory filing dated March 07, 2026. The company made this disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Tax Demand Details

The demand notice was received on March 06, 2026, and pertains to multiple sections of the Income Tax Act, 1961. The company has provided comprehensive details of the tax proceedings in its regulatory filing.

Legal Framework and Compliance

The demand notice has been issued under Section 156 of the Income Tax Act, 1961, with the related assessment order covering multiple sections including 147, 263, and 144B of the same Act. This disclosure follows the company's earlier communication dated October 28, 2026, indicating ongoing tax proceedings.

The company has committed to responding to the order within the specified timeframe and taking all requisite steps in this regard. Classic Filaments has also assured stakeholders that it will provide updates on any further developments as they occur.

Financial Impact Assessment

Regarding the financial implications, the company has stated that the impact cannot be quantified at present. The actual financial effect will depend on the outcome of further proceedings, including potential appeals to higher tax authorities. Classic Filaments is currently evaluating its options and preparing its response to the tax demand.

Regulatory Disclosure

This disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing was signed by Bharat A. Patel, Director and CFO of the company, ensuring proper corporate governance standards are maintained during this tax proceeding.