Acquisitions23 Mar 2026, 03:00 pm
JMG Corporation Ltd: Neerav Bairagi Acquires Control Over the Company
AI Summary
JMG Corporation Ltd has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Neerav Bairagi. Mr. Bairagi made an open offer pursuant to Regulation 3(1) and Regulation 4 of the Securities and Exchange Board of India. He will acquire control over the Target Company and become the promoter after completing compliances under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquisition was made through off-market purchase and mandatory Open Offer. The total voting rights post-acquisition stand at 52.64%.
Key Highlights
- Neerav Bairagi to acquire control over JMG Corporation Ltd
- Acquisition made through off-market purchase and mandatory Open Offer
- Post-acquisition, Bairagi holds 52.64% voting rights
- Bairagi to become the promoter of JMG Corporation Ltd
- Completion of compliances under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015