Western Ministil Limited has issued a corrigendum to its board meeting outcome dated March 12, 2026, regarding the acquisition of Micron Calcite Private Limited for ₹45.40 lakhs. The corrigendum introduces significant modifications to the original acquisition terms, particularly requiring shareholder approval and revising payment methodology as per regulatory compliance requirements.

Key Modifications in Corrigendum

The company has made three critical revisions to the original acquisition announcement. The acquisition of 10,000 equity shares of ₹10.00 each at ₹454.00 per share now requires shareholder approval in the upcoming General Meeting as per Regulation 23(4) of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015. Additionally, the payment method has been revised from cash consideration to payment as per the valuation report.

Enhanced Target Company Profile

Micron Calcite Private Limited, incorporated on June 20, 2008, operates across multiple business segments including industrial equipment and machinery, trading packaging and containers manufacturing, and chemical trading and distribution. The company has demonstrated consistent performance with updated turnover figures showing significant growth trajectory.

Related Party Transaction Details

The acquisition qualifies as a material related party transaction due to Mr. Kalpesh Naginbhai Patel serving as a common director in both Western Ministil Limited and Micron Calcite Private Limited. The transaction is conducted at arm's length pricing based on professional valuation, ensuring compliance with regulatory requirements.

Strategic Business Expansion

The acquisition represents Western Ministil's entry into new business lines, facilitating expansion of the company's operations beyond its current scope. Micron Calcite's diverse business portfolio includes trading, import, export, and servicing of industrial machinery, manufacturing and printing of metal and plastic containers for industrial packaging, and trading and distribution of chemicals and raw materials with related consultancy services.

Western Ministil Limited's open offer has concluded with substantially lower participation than originally targeted, according to the post-offer advertisement published on March 12, 2026. The acquisition attempt by Mr. Kalpesh Patel and Mrs. Vandana Patel fell significantly short of expectations.

Offer Performance Summary

The open offer, managed by Navigant Corporate Advisors Limited, aimed to acquire 33,80,000 equity shares at Rs. 10.00 per share. However, the actual response was dramatically lower than anticipated:

Acquirer Shareholding Changes

The acquirers' shareholding pattern shows a significant transformation through the combined preferential allotment and open offer process:

Public Shareholding Impact

The limited acceptance in the open offer resulted in higher public shareholding retention than originally planned:

Offer Timeline and Process

The open offer was conducted between February 18, 2026, and March 5, 2026, with consideration payment scheduled for March 20, 2026. MUFG Intime India Private Limited served as the registrar to the offer. The detailed public statement was initially published on December 3, 2025, in Financial Express, Jansatta, and Pratahkaal newspapers.

Regulatory Compliance

The post-offer advertisement was issued in compliance with Regulation 18(12) of SEBI SAST Regulations 2011. The acquirers have accepted full responsibility for the information contained in the advertisement and fulfillment of obligations under SEBI regulations. A copy of the post-offer advertisement is available on SEBI's website for public reference.