Acquisitions7 Apr 2025, 06:57 pm
Magnanimous Trade & Finance Ltd: Acquirer Announces Open Offer for 26.00% Stake at ₹391.00/- per Share
AI Summary
Swaraj Shares and Securities Pvt Ltd, as the Manager to the Offer, announced that Mr. Kurjibhai Premjibhai Rupareliya, the Acquirer, will make an Open Offer for up to 2,47,382 Offer Shares, representing 26.00% of the Voting Share Capital of Magnanimous Trade & Finance Limited. The Offer Price is ₹391.00/- per Offer Share, payable in cash, assuming full acceptance, amounting to ₹9,67,26,362.00. This Offer is in compliance with the provisions of Regulations 3 (1) and 4 of the SEBI (SAST) Regulations, following the execution of the Share Purchase Agreement dated Wednesday, November 13, 2024.
Key Highlights
- Acquirer announces Open Offer for 26.00% stake in Magnanimous Trade & Finance Ltd.
- Offer Price set at ₹391.00/- per Offer Share, amounting to ₹9,67,26,362.00.
- Offer triggered in compliance with Regulations 3 (1) and 4 of the SEBI (SAST) Regulations.
- Acquirer to purchase 6,79,350 Sale Shares from Selling Promoters Shareholders at ₹385.00/- per Sale Share.
- Share Purchase Agreement executed on Wednesday, November 13, 2024.