Navigant Corporate Advisors Limited has submitted the revised pre-offer advertisement for Farmico International Private Limited's open offer to acquire equity shares of Simandhar Impex Limited, with updated schedule of activities and regulatory compliance details.

Advertisement Submission Details

Navigant Corporate Advisors submitted the pre-offer advertisement to BSE Limited on April 17, 2026, following publication in multiple newspapers on April 17, 2026:

Open Offer Structure

The open offer maintains consistent parameters as previously announced:

Revised Schedule of Activities

The offer timeline has been significantly revised with new dates for key milestones:

Regulatory Compliance Status

The Letter of Offer dispatch to all public shareholders was completed on April 8, 2026. SEBI provided final observations through Letter No. HO/49/12/11(35)2026-CFD-RAC-DCR1/1/8242/2026 dated March 30, 2026, which have been incorporated into the Letter of Offer.

Committee Recommendations

The Committee of Independent Directors published their recommendations on April 16, 2026, concluding that the offer price of Rs. 30.00 per share is justified and in accordance with SEBI SAST Regulations. The committee noted no competitive bids have been received for this offer.

Documentation Availability

The Letter of Offer is available on SEBI's website ( www.sebi.gov.in ) and Navigant Corporate Advisors' website ( www.navigantcorp.com ). Eligible shareholders can participate through their respective brokers or apply on plain paper following prescribed procedures under SEBI SAST Regulations.

Navigant Corporate Advisors Limited has submitted the comprehensive Letter of Offer to SEBI and BSE Limited for Farmico International Private Limited's mandatory open offer to acquire shares in Simandhar Impex Limited. The submission, dated April 6, 2026, marks a significant milestone in the acquisition process that was initially announced in January.

Open Offer Structure and Timeline

The open offer involves Farmico International Private Limited acquiring up to 7,75,310 equity shares of Simandhar Impex Limited at Rs. 30.00 per fully paid-up equity share of Rs. 10.00 each. This acquisition represents 25.36% of the fully paid-up and voting share capital of the target company.

Revised Schedule Implementation

The Letter of Offer confirms the implementation of the revised schedule that was previously announced through a corrigendum. The offer will open on Monday, April 20, 2026, and close on Monday, May 4, 2026, with payment of consideration scheduled for May 18, 2026.

Financial Arrangements and Compliance

Farmico International has deposited Rs. 60.00 lakh in an escrow account with ICICI Bank Limited, which exceeds 25% of the offer consideration as required by SEBI regulations. The acquirer has confirmed adequate financial resources to complete the transaction, with a certified net worth of Rs. 301.00 lakh as of January 6, 2026.

The offer is being conducted through BSE's acquisition window mechanism, with Allwin Securities Limited appointed as the buying broker and Bigshare Services Private Limited serving as the registrar to the offer.

Strategic Objectives and Future Plans

Upon completion of the offer and the Share Purchase Agreement, Farmico International will acquire control of Simandhar Impex Limited and become the new promoter. The acquirer intends to grow the business and may diversify into other areas with prior shareholder approval while maintaining the company's listing status on BSE Limited.