Sanmitra Commercial Limited's open offer has concluded with minimal participation from public shareholders, as detailed in the post offer advertisement submitted by Navigant Corporate Advisors Limited to BSE on January 28, 2026. The offer, conducted under SEBI SAST Regulations, saw significantly lower response than anticipated.

Open Offer Performance

The open offer by Ankit Jalan (Acquirer-1) and Anuj Jalan (Acquirer-2), along with six persons acting in concert, concluded on January 20, 2026. The actual participation fell substantially short of projections:

Shareholding Structure Changes

The acquirers and persons acting in concert had acquired 4,01,66,149 shares (69.74%) through share purchase agreement and preferential allotment before the open offer. Post-offer, their combined shareholding stands at 4,02,07,249 shares representing 69.81% of the expanded equity and voting share capital.

*Computed as percentage of pre-preferential equity capital of 1,10,00,000 shares

Offer Timeline and Compliance

The open offer operated from January 6, 2026 to January 20, 2026, with consideration payment completed on January 23, 2026. The detailed public statement was initially published on September 5, 2025, in Financial Express (English), Jansatta (Hindi), and Pratahkaal (Marathi) newspapers.

Key Participants

The offer involved multiple stakeholders:

• Acquirers: Ankit Jalan and Anuj Jalan
• Persons Acting in Concert: Manju Jalan, Radhika Jalan, Prachi Jalan, Ritu Jalan, Divyanshi Jalan, and Daivik Jalan
• Manager to Offer: Navigant Corporate Advisors Limited
• Registrar: Purva Sharegistry (India) Pvt. Ltd

The expanded equity and voting share capital consists of 5,75,97,500 fully paid-up equity shares of Rs. 10 each, including shares allotted through preferential issue and convertible warrants. The post offer advertisement confirms compliance with Regulation 18(12) of SEBI SAST Regulations, 2011.

Sanmitra Commercial Limited has issued a postal ballot notice dated January 13, 2026, seeking shareholder approval for significant corporate changes through special resolutions. The company has appointed M/s. Nuren Lodaya & Associates as the scrutinizer to conduct the postal ballot process through remote e-voting.

Special Resolutions Overview

The postal ballot covers two major corporate restructuring initiatives that require shareholder approval:

Proposed Name Change Rationale

The company's board of directors approved the name change proposal on January 7, 2026, citing alignment with current business activities. Sanmitra Commercial is engaged in manufacturing, trading, importing, and exporting various plastic products including profile plastic, polyethylene, tarpaulins, moulded industrial articles, PVC tarpaulin sheets, cross laminated sheets, and other plastic products.

The board believes the existing name "Sanmitra Commercial Limited" does not adequately reflect the company's manufacturing-focused business operations. The proposed name "Tandhan Industries Limited" would better represent the company's industrial activities and enable more efficient business operations.

Registered Office Relocation

The second resolution seeks approval to shift the registered office from Maharashtra to West Bengal. The company views this relocation as part of its future business planning to expand operations in West Bengal and optimize available opportunities in the state.

The board expects the relocation will improve access to new resources and facilitate more advantageous, efficient, and economical business operations.

Voting Process and Timeline

Shareholders can participate in the postal ballot exclusively through electronic voting. The company has engaged National Securities Depository Limited (NSDL) to provide the remote e-voting facility. Physical postal ballot forms are not being distributed in compliance with regulatory circulars.

Key voting details:

• Voting rights proportional to shareholding as of January 2, 2026
• Electronic voting only through NSDL platform
• Multiple login methods available for demat and physical shareholders
• Results will be published on company website, NSDL website, and BSE website

Regulatory Compliance

The company has obtained a certificate from Laxmikant Kabra & Co LLP, Chartered Accountants, confirming compliance with Regulation 45 of SEBI Listing Regulations. The certificate validates that the company has invested more than 50% of its assets in activities suggested by the proposed new name.

Both resolutions require approval from relevant statutory authorities including the Central Government, Registrar of Companies, and stock exchanges. The company's directors and key managerial personnel have no financial interest in the proposed resolutions beyond their shareholding.