Mahan Industries: Open Offer for 26% stake at ₹12/share

Aftertrade Broking Private Limited, acting as the Manager to the Open Offer, has submitted a Public Announcement regarding an open offer for Mahan Industries Limited. The offer is by Mr. Nishil Sanjaykumar Shah and Mr. Niranjankumar Navratanmal Jain, who collectively are the 'Acquirers'. They intend to acquire up to 20,02,000 equity shares, representing 26% of the expanded voting share capital of Mahan Industries. The offer price is set at ₹12 per equity share, payable in cash. This open offer is being made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.