Classic Filaments Limited (CFL) has announced the receipt of a public announcement for an open offer, marking a significant development in the company's ownership structure. The offer, dated October 24, 2025, comes from four acquirers who are poised to take control of the company.

Open Offer Details

The open offer, triggered by a Share Purchase Agreement, involves four acquirers: Sumit Bansal, Vikkas Bansal, Tarun Jain, and Varun Jindal. Here are the key details of the offer:

Share Purchase Agreement

The open offer was precipitated by a Share Purchase Agreement between the acquirers and the outgoing promoters. The agreement includes:

This transaction will result in a change of control, with the acquirers set to become the new promoters of Classic Filaments Limited.

Management of the Offer

VC Corporate Advisors Private Limited has been appointed as the manager to the open offer. A detailed public statement regarding the offer is expected to be published by October 31, 2025, providing shareholders with more comprehensive information about the proposed acquisition.

Company's Official Intimation

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Classic Filaments Limited has officially intimated the BSE Ltd about the receipt of the Public Announcement on October 25, 2025. The company's Company Secretary and Compliance Officer, Ankita P. Shroff, confirmed the receipt of the announcement through the manager to the Open Offer.

This open offer represents a significant corporate action for Classic Filaments Limited, potentially leading to a major shift in the company's ownership and control structure. Shareholders are advised to await the detailed public statement for a comprehensive understanding of the offer and its implications.

Classic Filaments Ltd , a prominent player in the textile industry, has announced significant changes in its leadership structure and approved its financial results for the quarter ended June 30, 2025. The company's Board of Directors made these decisions during a meeting held on July 30, 2025.

Leadership Changes

In a notable shift, the Board has approved the change in designation of Mr. Jayanti Gaudani from Managing Director to Whole-Time Director, effective July 30, 2025. This decision is subject to shareholder approval at the upcoming Annual General Meeting. Mr. Gaudani (DIN: 03571671), a promoter of Classic Filaments, brings with him a wealth of experience, having been associated with the company for the past 10 years and boasting over 17 years of expertise in the textile industry.

Mr. Gaudani is related to other promoter directors, including Mr. Bharat Patel and Mr. Amit Patel. His extensive experience and deep understanding of the textile sector are expected to contribute positively to the company's future growth and strategic direction.

Financial Results Approval

The Board has approved the unaudited financial results for the quarter ended June 30, 2025. While specific financial figures were not disclosed in the available information, this approval marks an important milestone in the company's fiscal calendar.

Ongoing Tax Matter

The company's auditors have highlighted an ongoing income tax assessment matter for the financial year 2018-19, related to alleged bogus purchases. However, the management maintains that these purchases are valid and does not anticipate any material impact on the current financial results.

Conclusion

As Classic Filaments navigates these changes and continues to address regulatory matters, stakeholders will be keenly watching how these developments influence the company's performance and strategic direction in the competitive textile industry landscape.