Pankaj polymers Limited has announced a public offer for the acquisition of 14,41,414 equity shares from its existing shareholders. The acquisition is being undertaken by a group of four acquirers under the applicable SEBI regulations governing substantial share acquisitions and takeovers.

Acquisition Details

The public offer involves the acquisition of equity shares by four named acquirers: Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar, and Mr. Itihaensu Arora. The transaction is structured in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Compliance and Documentation

The pre-offer public announcement and corrigendum to the detailed public statement were dated February 21, 2026. These documents were subsequently published in newspapers on February 24, 2026, ensuring compliance with mandatory disclosure requirements under SEBI regulations.

The announcement was published in Financial Express (English edition) and several regional newspapers including Prenkaar Nava in Telugu and Marathi editions across multiple cities including Mumbai, Telangana, and Maharashtra.

Merchant Banking Services

Fintellectual Corporate Advisors Private Limited is serving as the SEBI registered Category I Merchant Banker for this transaction. The company has submitted the necessary documentation to BSE Limited, including copies of the pre-offer public announcement and corrigendum to the detailed public statement.

Market Communication

The formal communication regarding this public offer was submitted to the Listing Department of BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai. The submission includes soft copies of newspaper clippings of the pre-offer public announcement published in Financial Express for regulatory record-keeping purposes.

Four prominent acquirers have launched a mandatory open offer for Pankaj Polymers Limited , targeting up to 14,41,414 equity shares representing 26% of the company's voting share capital. The offer, priced at ₹40 per fully paid-up equity share and payable in cash, follows a significant acquisition that triggered regulatory requirements under SEBI (SAST) Regulations.

Acquirer Details and Transaction Structure

The open offer is being made by four acquirers working in concert:

The acquirers entered into a Share Purchase Agreement on January 14, 2026, to acquire 32,23,627 equity shares (58.15% of voting capital) from existing promoters at a negotiated price of ₹20 per share, aggregating to ₹6,44,72,540.

Offer Terms and Pricing Justification

The offer price of ₹40 per share has been determined in accordance with Regulation 8(2) of SEBI (SAST) Regulations, representing the higher of relevant pricing parameters:

The total consideration for the open offer, assuming full acceptance, amounts to ₹5,76,56,560. The acquirers have established an escrow account with Yes Bank Limited, depositing ₹1,45,00,000 (over 25% of maximum consideration) to secure the offer.

Company Financial Performance

Pankaj Polymers Limited, incorporated in 1992 and engaged in trading of plastic products and construction business, has shown mixed financial performance:

The company's shares are listed on BSE Limited under the symbol PANKAJPO (Scrip Code: 531280) with ISIN INE698B01011.

Shareholding Structure Changes

Post-completion of the transaction, significant changes in shareholding structure will occur:

Current Promoter Group (to exit):

• Mr. Pankaj Goel and family members
• Pankaj Capfin Private Limited
• Pankaj Strips Private Limited
• Pankaj Polytec Private Limited

New Promoter Structure:

• Mr. Sandeep Jain: 13.05%
• Mr. Vikas Garg: 20.29%
• Mr. Rahul Nagar: 20.29%
• Mr. Himanshu Arora: 4.51%
• Open offer shares (if fully accepted): 26.00%

The public shareholding will reduce to approximately 15.86% post-transaction, potentially falling below the minimum 25% requirement for continuous listing.

Offer Timeline and Procedure

Key dates for the open offer include:

The offer will be conducted through BSE's acquisition window mechanism, with Fintellectual Corporate Advisors Private Limited serving as Manager to the Offer and Skyline Financial Services Private Limited as Registrar.

Strategic Objectives

The acquirers have stated their primary objective is to revive business performance and strengthen the company's competence in the IT sector while continuing existing business lines. They have committed to maintaining the current workforce and will seek shareholder approval for any significant asset disposals over the next two years.

The offer is not conditional upon minimum acceptance levels and represents a mandatory requirement following the substantial acquisition triggering SEBI regulations. Shareholders can tender their shares through registered brokers during the tendering period, with settlement following standard stock exchange procedures.