NewsCorporate ActionsMultiple Acquirers Launch Open Offer for Shamrock Industrial at ₹16.40 per ShareMultiple Acquirers Launch Open Offer for Shamrock Industrial at ₹16.40 per Share
Four acquirers have announced an open offer to purchase up to 14,11,388 equity shares of Shamrock Industrial Company Limited at ₹16.40 per share. The acquirers are Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijaykumar Harish, and Rattan Kapoor. The total offer value is ₹2,31,46,764.80. Saffron Capital Advisors Private Limited is managing the offer, which complies with SEBI regulations. A corrigendum to the detailed letter of offer was published in multiple newspapers, including regional editions.
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Four acquirers have announced an open offer to purchase up to 14,11,388 equity shares of Shamrock Industrial Company Limited, representing a significant move in the company's ownership structure. The offer price has been set at ₹16.40 per equity share, with a face value of ₹10 each.
Key Details of the Open Offer
| Aspect | Detail |
|---|---|
| Acquirers | Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijaykumar Harish, and Rattan Kapoor |
| Target Company | Shamrock Industrial Company Limited |
| Number of Shares | Up to 14,11,388 equity shares |
| Offer Price | ₹16.40 per equity share |
| Total Offer Value | ₹2,31,46,764.80 |
Offer Management and Compliance
Saffron Capital Advisors Private Limited has been appointed as the manager for this open offer. The company has ensured compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Public Announcement and Corrigendum
A corrigendum to the detailed letter of offer was published. This update was disseminated through multiple newspapers to ensure wide reach:
- Financial Express (English) - All Editions
- Janasatta (Hindi) - All Editions
- Pratahakal (Marathi) - Mumbai Edition
The publication in Marathi specifically targets the regional language of Mumbai, where the registered office of Shamrock Industrial Company Limited is located, and where its equity shares are listed on the stock exchange.
Implications for Shareholders
This open offer provides an opportunity for the public shareholders of Shamrock Industrial Company Limited to tender their shares at the specified price of ₹16.40 per share. Shareholders should carefully consider the offer terms and consult financial advisors if needed before making a decision.
Market Impact
The announcement of this open offer may have implications for the stock price and trading volume of Shamrock Industrial Company Limited. Investors and market analysts will be closely watching how this development affects the company's ownership structure and future direction.
Regulatory Oversight
The open offer is being conducted under the supervision of SEBI, ensuring transparency and fairness in the process. The appointment of Saffron Capital Advisors Private Limited as the offer manager adds credibility to the transaction.
Shareholders and potential investors are advised to keep an eye on further announcements and updates regarding this open offer, as it could significantly impact the company's shareholding pattern and future prospects.
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