Narnolia Financial Services Limited has formally submitted the Letter of Offer for an open offer to acquire equity shares of Shashank Traders Limited under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The submission was made to BSE Limited and The Calcutta Stock Exchange Limited on February 02, 2026.

Open Offer Details

The open offer is being made by three acquirers acting collectively to acquire a substantial stake in Shashank Traders Limited. The acquirers comprise AVB Endeavors Private Limited (Acquirer 1), Prilika Enterprises Private Limited (Acquirer 2), and Mr. Aditya Vikram Birla (Acquirer 3).

Underlying Transaction

The open offer stems from a Share Purchase Agreement executed on November 07, 2025, wherein the acquirers agreed to purchase 8,24,600 equity shares from the seller Praveen Jaswant Rai Jain. This acquisition represents 26.65% of the issued, subscribed, paid-up and voting share capital at ₹30.00 per share, aggregating to ₹2,47,38,000.

Offer Timeline and Process

The tendering period for the open offer is scheduled from February 09, 2026 to February 24, 2026. BSE Limited has been designated as the stock exchange for tendering equity shares through the Acquisition Window mechanism.

Financial Arrangements

The acquirers have established comprehensive financial arrangements to fulfill their payment obligations. An escrow account has been opened with Axis Bank Limited under the name "PRILIKA ENTERPRISES PRIVATE LIMITED -OPEN OFFER 2025" with a cash deposit of ₹4,64,07,000, representing 100% of the total consideration payable.

Target Company Profile

Shashank Traders Limited is a public limited company incorporated on May 29, 1985, engaged in providing financial consultancy services and trading in goods and services. The company's equity shares are listed on BSE Limited with scrip code 540221 and The Calcutta Stock Exchange Limited with scrip code 033007.

Regulatory Compliance

The open offer is being conducted in accordance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011. The offer is unconditional and not subject to any minimum level of acceptance from eligible shareholders. Narnolia Financial Services Limited, with SEBI Registration Number INM000010791, serves as the Manager to the Offer.

The Letter of Offer includes comprehensive documentation covering risk factors, offer price justification, financial arrangements, terms and conditions, and detailed procedures for acceptance and settlement. All eligible shareholders whose names appear in the register of members as on the identified date will receive the Letter of Offer along with the Form of Acceptance cum Acknowledgement.

Source:

AVB Endeavors Private Limited, Prilika Enterprises Private Limited, and Aditya Vikram Birla have announced an open offer to acquire up to 15,46,900 equity shares of Shashank Traders Limited (STL), representing 50% of the company's voting capital. The offer price is set at Rs 30.00 per share, potentially valuing the transaction at Rs 4.64 crores.

Key Details of the Open Offer

This open offer follows a Share Purchase Agreement (SPA) where the acquirers agreed to purchase a 26.65% stake from existing promoters. The move has triggered mandatory open offer obligations under SEBI takeover regulations.

Financial Overview of Shashank Traders Limited

While the open offer presents a potential change in ownership, it's important to consider STL's recent financial performance:

The company's financial data reveals a challenging period with declining assets and equity. However, there are signs of improvement in profitability, with net losses reducing by 50% year-over-year.

Implications for Shareholders

The open offer at Rs 30.00 per share presents an opportunity for STL's shareholders to evaluate their investment. Given the company's recent financial performance, shareholders may want to consider the following:

1. The offer price in relation to the company's book value and market price.
2. The potential for operational improvements under new management.
3. The acquirers' plans for the company's future direction and growth strategies.

Shareholders are advised to carefully review the detailed offer document and seek independent financial advice before making a decision.

Conclusion

This open offer marks a significant development for Shashank Traders Limited. While the company has faced financial challenges, the interest from AVB Endeavors and partners could signal a new chapter. Shareholders and market observers will be keenly watching how this transaction unfolds and its potential impact on STL's future performance and direction.