Pankaj Polymers Limited faces a mandatory open offer as four individual acquirers seek to purchase additional equity shares from public shareholders. The acquirers have published a detailed public statement following their substantial acquisition of promoter stakes in the Telangana-based polymer company.

Open Offer Details

The four acquirers are targeting up to 14,41,414 equity shares through the open offer, representing 26.00% of the voting share capital. The offer has been structured with specific financial parameters and regulatory compliance requirements.

Acquirer Profiles

The acquisition consortium comprises four experienced professionals from finance and technology sectors. Each acquirer brings distinct expertise and substantial net worth to the transaction.

The acquirers have demonstrated their financial capability through certified net worth statements as of December 31, 2025. Mr. Sandeep Jain's net worth stands at ₹22,68,58,252.00, while Mr. Vikas Garg possesses ₹33,77,74,264.00 in individual net worth.

Underlying Share Purchase Agreement

The open offer stems from a Share Purchase Agreement executed on January 14, 2026, between the acquirers and existing promoters. This primary transaction involved the acquisition of a controlling stake at a significantly lower price than the public offer.

The promoter sellers include Mr. Pankaj Goyal, Mr. Paras Goyal, Mrs. Kanchan Goyal, Mrs. Nita Goyal, Mrs. Prabha B Kedia, Mr. Aman Goyal, along with three private limited companies - Pankaj Capin Private Limited, Pankaj Strips Private Limited, and Pankaj Polytet Private Limited.

Regulatory Compliance and Implementation

The open offer complies with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The detailed public statement was published across multiple newspapers on January 22, 2026, including Financial Express, Jansatta, Pratahkal, and Nava Telangana in various regional languages.

Fintellectual Corporate Advisors Private Limited serves as the Manager to the Offer, while Skyline Financial Services Private Limited acts as the Registrar. The implementation will utilize BSE Limited's acquisition window mechanism, with Nikunj Stock Brokers Limited appointed as the buying broker for settlement purposes.

Eligibility and Tendering Process

Public shareholders eligible to participate include all equity holders except promoters, promoter group members, the acquirers, and parties to the Share Purchase Agreement. Both dematerialized and physical share holders can tender their shares during the offer period.

The offer provides proportionate acceptance if oversubscribed, ensuring fair treatment of all participating shareholders. The tendering process will follow established stock exchange procedures through BSE's designated acquisition window, maintaining transparency and regulatory compliance throughout the transaction.

Pankaj Polymers Limited has announced a significant corporate development with its promoters entering into a Share Purchase Agreement (SPA) for the sale of their entire shareholding. The agreement, executed on January 14, 2026, marks a complete change in the company's ownership structure and will trigger regulatory obligations under securities laws.

Transaction Overview

The Share Purchase Agreement involves the sale of 32,23,627 equity shares of ₹10 each, representing 58.15% of the total voting share capital of the company. This transaction will result in the acquirers gaining control over Pankaj Polymers Limited.

Promoter Sellers and Their Holdings

The promoter group consists of nine entities - six individuals and three private companies. The largest individual holding belongs to Kanchan Goel with 4.68% stake, while Pankaj Strips Private Limited holds the maximum stake at 18.14% among all promoter entities.

Acquiring Parties

The acquiring group comprises four individuals who currently hold no shares in the company. Upon completion of the transaction and subsequent open offer, these acquirers will gain control over the company and be classified as promoters under SEBI regulations.

Regulatory Implications

The transaction will attract mandatory obligations under SEBI (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011. The acquirers will be required to make an open offer to public shareholders of the company. Upon completion of the open offer and the proposed transaction, the acquirers will exercise control over the company and be classified as promoters in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Changes

As part of the transition, the existing promoter directors will tender their resignation from the board of the company upon completion of the proposed transaction. This will facilitate the new ownership structure and allow the acquirers to implement their management vision for the company.

The disclosure was made under Regulation 30 and 30A of SEBI (LODR) Regulations, ensuring transparency and compliance with regulatory requirements for material events that could impact shareholders' interests.