Mahan Industries: Open Offer for 26% Stake at ₹12 Per Share

Aftertrade Broking Pvt Ltd, acting as the Manager to the Offer, has submitted a Draft Letter of Offer to BSE for the public shareholders of Mahan Industries Ltd. The offer is made by Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain, who collectively aim to acquire up to 20,02,000 equity shares, representing 26% of the total expanded voting equity share capital. The acquisition is proposed at a price of ₹12 per equity share, in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This open offer signifies a substantial acquisition accompanied by a change in control and management of the Target Company. The offer is not conditional on minimum acceptance and is not a competing offer.