Ramgopal Polytex Limited saw minimal participation in its open offer, with shareholders tendering and accepting just 208 equity shares out of the 37,70,000 shares offered. The acquisition was undertaken by Pravin Kumar Shishodiya and Punit Shishodiya at a price of ₹17.10 per share.

The open offer, conducted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, aimed to acquire up to 26.00% of the company's equity share capital. The offer period ran from September 25, 2026, to October 9, 2026, with the payment of consideration completed on October 15, 2026.

Offer Outcome Details

The actual acquisition volume was significantly lower than the proposed size, resulting in a total consideration outlay of ₹3,556.80 compared to the maximum potential outlay of ₹6,44,67,000. The acquirers' post-offer shareholding remained largely unchanged from their pre-agreement position regarding the open offer component.

What the Numbers Show

The data reveals a stark divergence between the acquirers' intent and shareholder response. While the acquirers sought to increase their stake to 71.46% via the open offer, they ultimately hold 45.46% post-offer. This indicates that public shareholders, who held 54.54% prior to the offer, retained nearly all their shares, with only a negligible reduction to 54.54% (rounded) or effectively unchanged due to the tiny number of shares accepted. The failure to acquire additional shares suggests that the offer price did not incentivize further selling by minority shareholders.

Ramgopal Polytex Limited announced that its statutory auditor, Rungta Agarwal and Associates, has changed its legal constitution from a partnership firm to a proprietorship firm. The change is effective from September 9, 2026.

The conversion follows the resignation of CA Pawan Kumar Rungta as a partner. Consequently, CA Shivratan Krishnakumar Agarwal, who was previously a partner in the firm, will continue the audit practice as the sole proprietor. The firm retains its existing name and Firm Registration Number (FRN) 117761W.

Audit Engagement Status

The company clarified that this structural change does not constitute a resignation of the statutory auditor. There is no change in the statutory audit engagement of Ramgopal Polytex Limited pursuant to the change in constitution. The audit firm confirmed that its Peer Review Certificate status remains unchanged and that the conversion complies with Institute of Chartered Accountants of India (ICAI) guidelines.

Rungta Agarwal and Associates was appointed as the statutory auditor at the 41st Annual General Meeting held on September 30, 2022. The appointment is for a five-year term, concluding at the 46th Annual General Meeting.

Regulatory Compliance

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure aligns with Schedule III of the Listing Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The matter will be placed before the Audit Committee and Board of Directors for necessary compliance with the Companies Act, 2013.

Key Details of Auditor Change