Mr. Sesha Sai Nikhil Chintalapati completed his open offer for Neelkanth Rockminerals equity shares, acquiring a total of 68,327 shares. The transaction was executed at the offer price of ₹19.40 per share.

The post-offer advertisement, dated September 15, 2026, confirms that the acquirer’s total holding in the company now stands at 31,98,278 shares, representing 63.41% of the voting share capital. This figure includes 31,29,951 shares (62.06%) previously acquired through a Share Purchase Agreement and the 68,327 shares accepted in the current open offer.

Offer Statistics

The open offer, which opened on August 18, 2026, and closed on September 1, 2026, sought to acquire up to 13,11,362 equity shares representing 26.00% of the voting share capital. The actual acceptance was significantly lower than the maximum proposed quantity.

Payment of consideration and communication of acceptance or rejection were completed on September 10, 2026. Mark Corporate Advisors Private Limited served as the Manager to the Offer, while Purva Sharegistry (India) Private Limited acted as the Registrar to the Offer.

What the Numbers Show

The divergence between the proposed offer size and actual uptake highlights limited participation from public shareholders. While the acquirer intended to increase its stake to 88.06% through the open offer, the final holding is 63.41%. Consequently, the public shareholding decreased from 37.94% pre-offer to 36.59% post-offer, remaining well above the minimum public holding requirement under SEBI regulations.

Neelkanth Rockminerals has scheduled its 38th Annual General Meeting for September 30, 2026, to adopt financial statements for FY26 and reappoint key directors. The company reported a net profit of ₹22.72 lakh for the year ended March 31, 2026, an increase from ₹19.55 lakh in the previous year. Total income stood at ₹64.41 lakh, derived entirely from other income as revenue from operations remained nil.

The Board of Directors approved the agenda and adopted the annual report during its meeting on September 5, 2026. The corporate action follows compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015. The Board authorized the Notice of Annual General Meeting and the Directors Report to be attached to the Annual Report for shareholder adoption.

Financial Performance

The company’s profitability improved despite having no operational revenue, driven by interest income on loans and advances. Total expenses decreased to ₹32.76 lakh from ₹40.30 lakh in FY25. The Directors’ Report notes that the closure of the company’s unit has posed challenges, but management is exploring alternate avenues to make the company operative. The company is currently undergoing a takeover/acquisition process, pursuant to which the acquirer has made an open offer.

Meeting Details

The AGM is set to take place at the company's registered office in Jodhpur, Rajasthan. Shareholders are required to be on record by a specific date to participate in the proceedings.

Shareholder Entitlements

The company fixed August 28, 2026, as the record date to determine entitlements for receiving the Annual Report. To ensure clean registers for the meeting, the Register of Members and Share Transfer Books will remain closed from September 23, 2026, through September 30, 2026, inclusive.

Agenda Items

The meeting will transact ordinary and special business. Key items include:

• Adoption of Audited Financial Statements for FY26.
• Reappointment of Mr. Anil Sayarchand Kavar as Director, who retires by rotation.
• Reappointment of Mr. Noratmal Kavar as Managing Director for a three-year term from March 26, 2026, to March 25, 2029.

E-Voting Facility

Pursuant to Section 108 of the Companies Act, 2013, the company is providing remote e-voting facilities via Central Depository Services (India) Limited (CDSL).

Noratmal Kawar, Managing Director, signed the disclosure filed with the Bombay Stock Exchange.