Acquisitions28 Mar 2026, 11:31 am
Navigant Corporate Advisors Appointed as 'Manager to the Offer' for Midland Polymers' Open Offer
AI Summary
Navigant Corporate Advisors Ltd has been appointed as ‘Manager to the Offer’ by Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla for acquiring up to 97,50,000 equity shares of Midland Polymers Limited. This acquisition represents 26.00% of the expanded equity and voting share capital of the Target Company at a price of Rs. 10/- per Share. The open offer is triggered pursuant to the approval of the Board of Directors of Target Company to issue Equity Shares and Convertible Warrants to the Acquirers.
Key Highlights
- Navigant Corporate Advisors appointed as ‘Manager to the Offer’ for Midland Polymers' open offer
- Acquirers aim to acquire up to 97,50,000 equity shares representing 26.00% of the expanded equity and voting share capital
- Offer price set at Rs. 10/- per Share fully paid-up Equity Share
- Open offer triggered pursuant to the approval of the Board of Directors of Target Company
- Issue of Equity Shares and Convertible Warrants to the Acquirers approved by the Board of Directors of Target Company