Western Ministil Limited has successfully completed the acquisition of Micron Calcite Private Limited for ₹45.40 lakhs, following the board meeting held on March 12, 2026. The acquisition makes Micron Calcite a wholly owned subsidiary of Western Ministil Limited, marking a strategic expansion in the minerals and mining sector.

Board Meeting Outcome

The board of directors, in their meeting that commenced at 11:00 AM IST and concluded at 11:40 AM IST on March 12, 2026, approved the acquisition of 10,000 equity shares of ₹10.00 each, representing 100% of Micron Calcite's paid-up share capital. The shares were acquired at ₹454.00 per share based on a professional valuation report, with the total consideration of ₹45,40,000 paid in cash.

Target Company Profile

Micron Calcite Private Limited, incorporated on June 20, 2008, operates in the minerals, mining, and industrial materials industry. The company is engaged in trading, processing, and dealing in minerals and metal-related products, aligning with Western Ministil's business objectives. The company reported a turnover of ₹2.23 crores for FY 2024-25.

Related Party Transaction

The acquisition qualifies as a material related party transaction, with promoters Kalpesh Patel and Vandana Patel serving as directors in Micron Calcite Private Limited. The company confirmed that the transaction was conducted at arm's length pricing based on professional valuation.

Strategic Impact and Regulatory Compliance

The acquisition is expected to facilitate further expansion of Western Ministil's business operations in the minerals sector. The company indicated that the acquisition process will be completed within two months, with no governmental or regulatory approvals required for the transaction. The outcome was communicated to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Western Ministil Limited has completed a significant preferential allotment to acquirers Kalpesh Naginbhai Patel and Vandana Patel on February 16, 2026. The company has now submitted mandatory disclosures under Regulation 29(1) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011 to BSE Limited on February 18, 2026.

Preferential Allotment Structure

The Board of Directors approved the allotment of 35,00,000 equity shares and 45,00,000 convertible warrants to the acquirers. This preferential allotment represents a substantial increase in their shareholding position in the company.

Capital Structure Impact

The preferential allotment has significantly altered Western Ministil's capital structure. The company's equity share capital expanded from 21,57,186 shares to 61,57,186 equity shares of Rs. 10 face value each following the allotment.

Ongoing Open Offer Details

Simultaneously with the preferential allotment, the acquirers are conducting an open offer targeting 33,80,000 equity shares at Rs. 10.00 per share. This represents 26.00% of the expanded equity and voting share capital.

Regulatory Compliance and Status

Navigant Corporate Advisors Limited serves as the manager to the offer. The acquirers have deposited Rs. 340.00 lakhs in an escrow account with Kotak Mahindra Bank Limited and received necessary approvals from BSE Limited under SEBI's listing regulations.

The acquirers currently belong to the public category but will be treated as promoters upon completion of the open offer, as stated in their public announcement dated November 26, 2025. The Letter of Offer remains available on SEBI's website and the manager's website for public access.