Farmico International Launches Open Offer for 25.36% Stake in Simandhar Impex at ₹30 Per Share

Farmico International Private Limited has announced an open offer to acquire up to 7,75,310 equity shares of Simandhar Impex Limited, representing 25.36% of the voting share capital at ₹30.00 per share. Navigant Corporate Advisors Limited has been appointed as the manager to the offer, which is being conducted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Offer Structure and Financial Details

The open offer follows a share purchase agreement between Farmico International and the existing promoter group of Simandhar Impex. The financial parameters of the offer are structured as follows:

The offer price represents a premium to the company's book value per share of ₹10.65 as of September 30, 2025. Farmico International has deposited ₹60.00 lakhs in an escrow account with ICICI Bank Limited, exceeding the required 25% of the offer consideration.

Acquirer Profile

Farmico International Private Limited was incorporated on October 06, 2025, with its registered office in Mumbai. The company has an authorized capital of ₹1.00 crore and paid-up capital of ₹61.00 lakhs. The shareholding structure shows:

The acquirer's net worth stands at ₹3.01 crores as certified by CA Vedprakash Kukreja on January 06, 2026. The company's primary business involves leasing and real estate operations.

Target Company Overview

Simandhar Impex Limited, incorporated on December 15, 2023, operates as a trader and importer-exporter of precious metals and jewelry. The company is listed on BSE with scrip code 544662. Key financial metrics include:

The company's authorized capital is ₹3.50 crores divided into 35,00,000 equity shares, with paid-up capital of ₹3.06 crores representing 30,56,925 equity shares.

Selling Shareholders

The offer is triggered by Farmico's agreement to acquire 22,81,615 equity shares (74.64%) from the existing promoter group. The selling shareholders include:

• Prashant Avantilal Vora: 12,34,781 shares (40.39%)
• Seemabhai Prashanthbhai Vora: 4,85,407 shares (15.88%)
• Prashanthbhai Avantilal Vora HUF: 3,66,466 shares (11.99%)
• Other promoter group entities: 1,94,961 shares (6.38%)

Offer Timeline

The detailed public statement was published on January 22, 2026, with the following key dates:

BSE Limited has been designated as the stock exchange for tendering shares, with Allwin Securities Limited appointed as the buying broker. All equity shareholders, except the acquirer and selling shareholders, are eligible to participate in the offer during the tendering period.