Gulshankumar Vijaykumar Chopra has initiated an open offer to acquire up to 26% of the fully paid-up equity share capital of Niraj Cement Structurals Limited at a price of Rs 29 per share. The offer is triggered pursuant to the execution of Share Purchase Agreements (SPAs) dated June 16, 2026, through which the acquirer agreed to purchase 2,44,97,708 equity shares representing 41.04% of the voting share capital from public category shareholders. The total consideration payable for the open offer, assuming full acceptance, is Rs 45,00,95,341. The Detailed Public Statement was published on June 23, 2026.

The open offer is being made in accordance with Regulation 3(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Navigant Corporate Advisors Limited has been appointed as the Manager to the Offer. The acquirer currently holds 52,20,946 equity shares, representing 8.75% of the paid-up equity share capital, and is classified as a promoter of the target company.

Underlying Transaction Details

The open offer obligation arises from two separate agreements entered into by the acquirer with public category shareholders. The first agreement involves the purchase of 1,28,00,000 equity shares, constituting 21.44% of the voting share capital, from Bylan-Niraj Infra Projects Private Limited at a consideration of Rs 25.50 per share. The second agreement involves the purchase of 1,16,97,708 equity shares, constituting 19.60% of the voting share capital, from Chem Logistics & Infra Private Limited at a consideration of Rs 23.50 per share.

Acquirer and Promoter Shareholding

Following the completion of the underlying transaction, the acquirer's shareholding will increase to 2,97,18,654 equity shares, representing 49.78% of the fully paid-up equity share capital. The total promoter shareholding, including other promoters, will rise to 65.93% post-transaction. If the open offer is fully accepted, the acquirer along with other promoters will hold 91.93% of the equity share capital. Promoters other than the acquirer have confirmed they will not participate in the open offer.

Offer Timeline and Conditions

The Detailed Public Statement regarding the offer was published on June 23, 2026, in accordance with Regulation 14(3) of the SEBI (SAST) Regulations. The acquirer has confirmed adequate financial resources to meet the offer obligations. The offer is not conditional upon any minimum level of acceptance as per Regulation 19(1) of the regulations. The equity shares of Niraj Cement Structurals Limited are listed on BSE Limited and National Stock Exchange of India Limited.

Niraj Cement Structurals Limited disclosed on April 06, 2026, that its promoters have not encumbered any shares directly or indirectly during the financial year ended March 31, 2026. The declaration was submitted to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing includes confirmations from five promoters: Gulshankumar Vijaykumar Chopra, Pooja Gulshankumar Chopra, Aishwarya Gulshankumar Chopra, Siddhant Gulshankumar Chopra, and Asha Vijaykumar Chopra. Each promoter affirmed that no shares were pledged or otherwise encumbered throughout the specified period.

Promoter Disclosures

The following table details the promoters who submitted the annual disclosure:

The letters were addressed to the Corporate Relations Department of BSE Limited and the National Stock Exchange of India Limited, as well as the Audit Committee of Niraj Cement Structurals Limited. Anil Anant Jha, Company Secretary and Compliance Officer, signed the submission on behalf of the company.