Ownership & Market Activity › Sub-category
Open Offer / Takeover Battle
90 articles
A wave of mandatory open offers is reshaping the Indian corporate landscape, driven by recent promoter stake acquisitions. Several companies, including Jai Mata Glass, Kkalpana Plastick, Niraj Cement Structurals, Pasupati Fincap, RR Metalmakers, and South India Paper Mills, are facing open offers triggered by larger stake purchases. These transactions, often involving prices determined by regulatory guidelines and escrowed funds, reflect a broader trend of control changes and potential shifts in corporate governance. Investors should closely monitor these developments as they could lead to changes in management, strategy, and ultimately, the long-term value of these companies.
Indo Borax Open Offer for 25.79% of Kronox Lab
Indo Borax and Chemicals launches mandatory open offer for 95.70 lakh Kronox Lab shares at ₹157.27 per share.
Offer triggered by acquisition of 64.26% stake from promoters for ₹246.12 crore via share
Ashish Begwani Open Offer for 26% of Kkalpana Plastick
Mr. Ashish Begwani launches open offer to acquire 14.37 lakh shares (26% stake) in Kkalpana Plastick Ltd at ₹28 per share.
Annapurna Swadisht Q1 revenue surges 22% YoY to ₹108.7 crore, with net profit
Gulshankumar Chopra Niraj Cement Open Offer Results
Navigant Corporate Advisors submits post-offer advertisement for Gulshankumar Chopra's open offer to acquire 26% stake in Niraj Cement Structurals.
Open offer closed with only 21,350 shares tendered a
Jai Mata Glass Open Offer for 26% at ₹1.85/Share
Open offer by Ashwani Gulati, Kiran Gulati, and Veerasha Trust to acquire up to 2.6 crore shares (26%) of Jai Mata Glass Ltd at ₹1.85 per share.
Independent Directors Committee recommends the offer pr
Uday Narang Open Offer for 26% of Pasupati Fincap
Uday Narang launches a mandatory open offer to acquire up to 12.22 lakh shares (26%) of Pasupati Fincap Ltd at ₹12 per share, triggered by a separate share purchase agreement.
The offer is made pursua
South India Paper Mills 26% Open Offer at ₹120
Nandini and Kirit Modi announce mandatory open offer for 26% of South India Paper Mills at ₹120 per share, triggered by a separate 20.21% stake purchase.
The open offer seeks to acquire up to 48.75 la
Modi Family Open Offer for 26% South India Paper Mills
Nandini and Kirit Modi announce mandatory open offer for 26% stake in South India Paper Mills at ₹120/share, triggered by a separate 20.21% acquisition.
The offer, managed by Indcap Advisors, is for u
Lippi Systems Q1 FY27 Near-Breakeven with ₹0.28L Loss
Board approved unaudited Q1 FY27 standalone results showing a marginal net loss of ₹0.28 lakh, a significant improvement from the ₹22.08L loss in Q1 FY26.
Total income for the quarter was ₹37.92 lakh,
Jai Mata Glass Mandatory Open Offer at ₹1.85
Ashwani Gulati, Kiran Gulati, and Veerasha Trust launch a mandatory open offer for 26% of Jai Mata Glass Limited shares at ₹1.85 per share, triggered by a separate 44.57% stake purchase.
The offer, va
RR Metalmakers Open Offer for 26% at ₹23.85/Share
RB International Holdings, Suyog Desai, and Nikita Desai launch a mandatory open offer to acquire 26% of RR Metalmakers India Ltd at ₹23.85 per share.
The offer is triggered by an underlying share pur
Jay Kailash Namkeen Open Offer for 26% at ₹56/Share
Gretex Corporate Services announces an open offer for Jay Kailash Namkeen Limited to acquire up to 21,76,540 equity shares (26% stake) at ₹56 per share.
The open offer is triggered by a preferential a
Reliable Ventures Open Offer for 26% Stake at ₹21
Acquirers Chennupati Sarath Kumar, Vasireddy Sivanag, and Ancla Technology launch open offer for 28.63 lakh shares (26% equity) of Reliable Ventures at ₹21 per share.
Independent Directors Committee d
Colinz Laboratories Open Offer for 26% at ₹54/share
Saffron Capital issued a reminder advertisement for an open offer by Annjana Dugar, Likhitta Dugar, and Antariksh Dugar with PAC Padam Dugar to acquire 654,966 shares (26%) of Colinz Laboratories at ₹
Rakesh Shah ECS Biztech Open Offer for 26% Stake
Mr. Rakesh Ramanlal Shah and Komal Infotech Private Limited launch a mandatory open offer to acquire up to 26.00% of ECS Biztech Limited's equity shares at ₹10.50 per share.
The offer, triggered by a
Kuber Udyog Open Offer for 26% at ₹23.35/Share
• Mandatory open offer for 3.20 crore shares (26% stake) in Kuber Udyog at ₹23.35/share triggered by acquisition of Golden Ikon.
• Offer triggered by SSSA where acquirers get 7.63 crore shares for Gol
India Cements Capital Open Offer for 26% at ₹12/Share
Mandatory open offer by Sandeep Jain, Vikas Garg, and Rahul Nagar to acquire up to 56,43,612 shares (26% stake) in India Cements Capital Ltd at ₹12 per share.
Offer triggered by Share Purchase Agreeme
Devinsu Trading Limited Open Offer for 26% Stake
Mandatory open offer by Jaison Vijay Shah, Mukesh Kumar Bothra, and Yora Gems & Jewellery to acquire up to 1,52,880 equity shares (26%) of Devinsu Trading at ₹355 per share, aggregating ₹5.43 crore.
O
India Cements Capital Mandatory Open Offer for 26%
Acquirers Sandeep Jain, Vikas Garg, Rahul Nagar and PAC Neha Agarwal launch a mandatory open offer for 26% of India Cements Capital shares at ₹12 per share.
The offer is triggered by a Share Purchase
Ramgopal Polytex Open Offer for 26% Equity Shares
Pravin Kumar Shishodiya and Punit Shishodiya launch mandatory open offer for 26% stake in Ramgopal Polytex Limited at ₹17.10 per share.
Offer triggered by Share Purchase Agreement to acquire 45.46% fr
Rakesh Shah Open Offer for 26% ECS Biztech
Mr. Rakesh Shah and Komal Infotech launch mandatory open offer for 26% of ECS Biztech at ₹10.50/share, triggered by a separate 65.42% promoter stake acquisition.
The total open offer size is for 53,44
Uday Narang Open Offer for 26% Pasupati Fincap
Uday Narang launches mandatory open offer for 26% of Pasupati Fincap Ltd at ₹12 per share, triggered by acquiring 11.55% from promoter Dinesh Pareekh.
The open offer seeks to acquire up to 12.22 lakh
Shishodiyas' Open Offer for 26% of Ramgopal Polytex
Pravin Kumar and Punit Shishodiya launch mandatory open offer for 26% equity stake in Ramgopal Polytex Limited at ₹17.10 per share.
Offer triggered by acquisition of 45.46% promoter stake via Share Pu
Colinz Labs Open Offer for 26% at ₹54/Share
Mandatory open offer by Annjana Dugar, Likhitta Dugar, Antariksh Dugar and PAC Padam Dugar to acquire up to 6,54,966 shares (26% stake) of Colinz Laboratories Ltd at ₹54 per share, aggregating ₹3.53 c
India Cements Capital Open Offer for 26% at ₹12/Share
India Cements Capital received a Detailed Public Statement for a mandatory open offer to acquire 26% equity shares from public shareholders.
The open offer is triggered by acquirers Sandeep Jain, Vika
India Cements Capital Open Offer for 26% at ₹12
Acquirers Sandeep Jain, Vikas Garg, Rahul Nagar and PAC Neha Agarwal launch mandatory open offer for 26% equity (56.44 lakh shares) of India Cements Capital Ltd at ₹12/share.
Offer triggered by Share
RB International Holdings Open Offer for RR MetalMakers
RB International Holdings, Suyog Desai, and Nikita Desai launch mandatory open offer for 26% of RR MetalMakers at ₹23.85/share.
Offer triggered by acquisition of 70.66% stake from promoters Virat Shah
Niraj Cement Structurals 26% Open Offer at ₹29
Gulshankumar Chopra launches open offer for 26% stake in Niraj Cement Structurals at ₹29 per share.
Independent Directors Committee finds the offer price of ₹29 per share justified and compliant.
Offe
ECS Biztech Open Offer for 26% at ₹10.50/Share
Beeline Capital Advisors appointed as Manager to the Offer for an open offer by Rakesh R. Shah and Komal Infotech to acquire up to 53.44 lakh shares (26%) of ECS Biztech at ₹10.50 per share.
Open offe
Shankara Building Products Open Offer at ₹150/Share
The Ballygunge Family Trust and PACs launch mandatory open offer for 26% stake in Shankara Building Products at ₹150/share to rectify past SEBI SAST regulation non-compliance.
Offer aims to increase p
Aspect Global Ventures Duke Offshore 26% Open Offer
Aspect Global Ventures launches mandatory open offer for 26% of Duke Offshore at ₹30 per share, triggered by 70.61% acquisition.
Offer size is 25,62,872 shares totaling ₹7.69 crore, with tender period
Niraj Cement Open Offer Approved at ₹29/Share
Committee of Independent Directors approved Gulshankumar Chopra's open offer for 26% stake in Niraj Cement Structurals.
The open offer price was deemed fair and reasonable for 1.55 crore shares at ₹29
TMT India Open Offer Completes 15.40% Acquisition
Navigant Corporate Advisors submits post-offer advertisement for TMT (India) Limited open offer completion to BSE.
Acquirers purchased 7,62,990 shares (15.40% stake) at ₹10 per share via open offer to
India Cements Capital Open Offer for 26% at ₹12
Acquirers Sandeep Jain, Vikas Garg, and Rahul Nagar launch mandatory open offer for 26% of India Cements Capital shares at ₹12 per share.
Offer triggered by acquisition of 50.02% promoter stake from S
India Cements Capital Open Offer for 26% at ₹12
• Public announcement for mandatory open offer to acquire 26% (56.44 lakh shares) of India Cements Capital Ltd from public shareholders at ₹12 per share.
• Offer triggered by acquirers' purchase of 50
Purple Finance Open Offer Accepts Only 36 Shares
Post-offer advertisement discloses minimal 36-share acceptance in Allied Commodities' open offer for 26% of Purple Finance.
Open offer price was ₹55 per share, running from July 1 to July 14, 2026, tr
Karronn Bajaj's 26% Open Offer for Mitshi India
Mr. Karronn Naresh Bajaj announces mandatory open offer for 26% of Mitshi India at ₹15/share, triggered by acquiring 15.57% from promoters.
The offer, managed by Srujan Alpha Capital, seeks up to 22,8
Fabino Enterprises Open Offer Accepts Only 3,000 Shares
Aryaman Financial Services issued a post-offer announcement for Fabino Enterprises' open offer, mandated by SEBI Takeover Regulations.
The open offer to acquire 26% stake saw minimal acceptance of onl
Shankara Building Products Open Offer Corrigendum
Issues corrigendum to July 15, 2026 public announcement for open offer of 26% stake in Shankara Building Products.
Revises regulatory trigger references from Regulation 3(1) to solely Regulation 3(2)
Jai Mata Glass Mandatory Open Offer for 26% Stake
Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust launch a mandatory open offer for 26% of Jai Mata Glass Ltd. at ₹1.85 per share.
The offer is triggered by a separate Share Purchase Agreemen
Niraj Cement Open Offer Schedule Revised Corrigendum
Navigant Corporate Advisors issues a corrigendum to the detailed public statement for Gulshankumar Chopra's open offer for Niraj Cement Structurals.
The corrigendum revises the schedule of activities,
Bliss GVS Open Offer Addendum Adds Mates Visa as PAC
Bliss GVS Pharma received an addendum to an open offer from Anupam Rasayan, designating Mates Visa Consultancy as a person acting in concert (PAC).
The addendum, dated July 17, 2026, discloses Mates V
Mahan Industries Open Offer for 26% at ₹12/Share
• Aftertrade Broking submits public announcement for mandatory open offer by Nishil Shah and Niranjan Jain to acquire 26% of Mahan Industries.
• Offer triggered by preferential allotment of 32 lakh sh
Shankara Building Products 26% Open Offer at ₹150
The Ballygunge Family Trust launches a mandatory open offer for 26% of Shankara Building Products at ₹150 per share.
The offer is triggered by past non-compliance with SEBI SAST Regulations and a volu
AMPL Capital Open Offer Corrigendum: Shareholding Revisions
Novus Capital issues a corrigendum to an open offer for AMPL Capital, revising pre-offer Acquirer and PAC shareholding from 24.32% to 25.32% due to market purchases.
Grasim Industries announces its 79
Jai Mata Glass Open Offer for 26% at ₹1.85
• Mandatory open offer for 2.6 crore shares (26% stake) in Jai Mata Glass Ltd triggered by a promoter share purchase agreement.
• Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust will pay ₹1
Ortin Global Open Offer Completed with 226 Shares Accepted
Rarever Financial Advisors submitted a post-offer advertisement for Mr. Parveen Satija's open offer to acquire 26% equity shares in Ortin Global Limited at ₹14.65 per share.
The open offer opened on J
Lippi Systems Dholu Family Mandatory Open Offer
Dholu family makes mandatory open offer for 33.82 lakh Lippi Systems shares at ₹56.84 per share, representing 25.05% of expanded capital.
Offer triggered by Share Purchase Agreement and Share Subscrip
SJ Corporation Open Offer for 26% at ₹12/Share
Acquirers launch mandatory open offer for 1.12 crore shares (26%) of SJ Corporation at ₹12/share, triggered by preferential allotment and share purchase agreement.
Preferential issue of 2.17 crore sha
WaveRise ChrysCapital Novartis India Open Offer Completion
Axis Capital submits post-offer ad for completed open offer by WaveRise Investments and ChrysCapital for 26% stake in Novartis India.
Open offer acquired 64.19 lakh shares at ₹5,524.97 crore total val
Apollo Micro Systems Premier Explosives 26% Open Offer
Apollo Micro Systems launches mandatory open offer for 26% of Premier Explosives at ₹698/share, triggered by acquisition of 41.33% stake from AKS Family Trust.
The open offer size is for 1,39,77,911 s
Antariksh Industries Open Offer for 26% at ₹86/Share
Mandatory open offer by Alpitkumar Gor and Riddhi Infocom to acquire up to 631,785 shares (26% stake) in Antariksh Industries at ₹86 per share.
Offer triggered by Share Purchase Agreement to acquire 1
SAR Televenture Grand Foundry Open Offer Results
D&A Financial Services submits post-offer advertisement for SAR Televenture's open offer for Grand Foundry shares.
Open offer closed with only 910 shares tendered versus 7.91 million offered, resultin
Sanginita Chemicals Open Offer Acquires 0.02% Shares
Sanginita Chemicals open offer for 26% stake closed with only 9,004 shares tendered at Rs. 13.55 per share.
Aegis Vopak declared a final dividend of Rs. 0.20 per share with a record date of July 10, 2
Ashish Begwani's 26% Open Offer for Kkalpana Plastick
Mr. Ashish Begwani triggers a mandatory open offer for 26% of Kkalpana Plastick shares at ₹28 per share after acquiring a 72.58% controlling stake.
The open offer is for up to 14,37,420 equity shares
DP Global Open Offer for 26% of AMPL Capital
Novus Capital submits Detailed Public Statement for mandatory open offer to acquire 1.59 crore shares (26%) of AMPL Capital at ₹30 per share.
Offer triggered by acquirers' market purchases increasing
TMT India Open Offer for 26% at ₹10/share
Yoga Builders, Scaffold Properties, and MDK Properties launch open offer for 26% stake in TMT (India) Limited at ₹10 per share.
Offer price of ₹10 per share deemed justified by independent directors c
Arco Leasing Open Offer for 25.57% at ₹10/Share
Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal launch open offer to acquire 27,74,970 equity shares (25.57%) of Arco Leasing Limited at ₹10 per share.
Offer price deemed fair by independent direct
Arco Leasing Open Offer for 25.57% at ₹10/Share
Open offer by Jitesh Kothari and Atul Jaiswal to acquire 27.75 lakh shares (25.57% stake) in Arco Leasing Limited at ₹10 per share.
Committee of Independent Directors published recommendations in Fina
Niraj Cement Structurals Open Offer for 26% at ₹29
Gulshankumar Chopra makes mandatory open offer for 26% stake in Niraj Cement Structurals at ₹29 per share, triggered by share purchase agreements.
Offer size is 1.55 crore shares worth ₹45.01 crore, w
TMT India Open Offer Schedule Revised Corrigendum
Navigant Corporate Advisors issued a corrigendum to the detailed public statement for TMT (India) Limited's open offer.
The open offer by three acquirers seeks to acquire 26% of TMT India's equity sha
Shantai Industries Open Offer Receives Zero Acceptances
Post-offer advertisement discloses zero equity shares were tendered by public shareholders in the mandatory open offer for Shantai Industries.
Open offer was for 1.92 million shares (25.6% voting capi
Gulshankumar Chopra Niraj Cement 26% Open Offer
Gulshankumar Chopra launches mandatory open offer for 26% stake in Niraj Cement Structurals at ₹29/share.
Offer follows acquisition agreements to purchase 41.04% from two sellers at ₹25.50 and ₹23.50
Midland Polymers Open Offer Accepts Only 0.005% Shares
Navigant Corporate Advisors issued a post-offer advertisement for an open offer by five acquirers for 26% of Midland Polymers.
The open offer, priced at ₹10 per share, closed with only 1,765 shares te
Novartis India Open Offer Receives Minimal Tender Response
Axis Capital discloses tender update for Novartis India open offer by WaveRise, ChrysCapital, and Two Infinity.
Zero equity shares tendered in demat form and only 10 physical shares received as of Jun
Emirates NBD RBL Bank Open Offer 26% at ₹282.38
Emirates NBD Bank announces open offer for 26% of RBL Bank shares at ₹282.38 per share, totaling ₹117.35 billion.
The offer resulted in zero shares tendered by public shareholders according to the pos
Emirates NBD RBL Bank Open Offer Results
Emirates NBD Bank announces open offer results for 26% stake in RBL Bank at ₹282.38 per share.
No shares were acquired through the open offer tender process, resulting in zero acceptance.
Target compa
Sesha Sai Nikhil Chintalapati Neelkanth Open Offer 26%
• Mandatory open offer by Mr. Sesha Sai Nikhil Chintalapati to acquire 26% (13.11 lakh shares) of Neelkanth Rock-Minerals at ₹19.40/share, triggered by a separate promoter share purchase.
• Offer open
Emirates NBD RBL Bank Open Offer Zero Acceptance
Emirates NBD's open offer for 26% of RBL Bank at ₹282.38/share closed with zero shares tendered by public shareholders.
Acquirer instead acquired 60% stake (929.13M shares) via preferential allotment
Novartis India Open Offer Receives Minimal Share Tender
• Axis Capital discloses tender status for Novartis India's 26% open offer by WaveRise and ChrysCapital.
• Zero equity shares tendered in dematerialized form as of June 18, 2026.
• Only 10 physical sh
Colinz Labs 26% Open Offer at ₹54/Share
Annjana, Likhitta, and Antariksh Dugar with Padam Dugar launch a mandatory open offer for 26% of Colinz Laboratories at ₹54 per share.
The offer is triggered by their agreement to acquire 34.56% from
Novartis India Open Offer Receives Zero Shares Tendered
Axis Capital discloses zero equity shares were tendered on June 17, 2026, in the open offer for Novartis India.
The open offer is for acquiring up to 26% of Novartis India's voting share capital from
Fabino Enterprises 26% Open Offer at ₹20/Share
R G Family Trust, Sameer Gupta, and Sundeep Gupta launch a mandatory open offer to acquire 5,46,000 shares (26%) of Fabino Enterprises at ₹20 per share.
The offer follows a Share Purchase Agreement to
Novartis India Open Offer Receives Zero Shares
Axis Capital discloses zero equity shares tendered on first day of Novartis India open offer.
No shares were received in both dematerialized and physical form by the offer's escrow and registrar.
The
Smart Services Open Offer for 25% of Sharp India
Smart Services Private Limited launches open offer to acquire 64.86 lakh equity shares (25% stake) in Sharp India Limited at ₹10 per share.
The offer price of ₹10 per share was deemed justified by Sha
Kolli Murali Krishna & Gogineni Srinivas Senthil Infotek Open Offer
Acquirers Kolli Murali Krishna and Gogineni Srinivas announce a mandatory open offer for 26% of Senthil Infotek Limited's shares at ₹8 per share.
The offer, triggered by a Share Purchase Agreement to
RBL Bank Open Offer Receives Zero Share Tenders
Emirates NBD Bank's open offer for 26% of RBL Bank equity shares received zero tenders from public shareholders as of June 12, 2026.
The disclosure reflects 0 shares tendered in the escrow demat accou
Sesha Sai Nikhil Chintalapati's Neelkanth Open Offer at ₹19.40
Mark Corporate Advisors published a Detailed Public Statement for an open offer to acquire 26.00% of Neelkanth Rock-Minerals Limited.
The offer, priced at ₹19.40 per share, is triggered by an SPA to a
Emirates NBD RBL Bank Open Offer Zero Shares Tendered
Discloses that zero equity shares were tendered by public shareholders in Emirates NBD's open offer for a 26% stake in RBL Bank.
The open offer is for 415,586,443 shares and is being managed by J.P. M
Aspect Global Ventures Duke Offshore 26% Open Offer
Aspect Global Ventures launches mandatory open offer for 26% of Duke Offshore at ₹30/share, triggered by acquiring 70.61% stake from promoters.
The open offer size is 25,62,872 shares worth ₹7.69 cror
Saroj Choudhury Oxford Industries Open Offer
Saroj Kumar Choudhury launches open offer for 26% stake in Oxford Industries at ₹5 per share.
Offer price deemed fair by independent committee with no competitive bids received.
Offer opens 12 June 20
Novartis India 26% Open Offer at ₹860.64/Share
Acquirers announce mandatory open offer for 26% of Novartis India shares at ₹860.64 per share.
Independent Directors Committee recommends the offer as fair per SEBI pricing regulations.
Tendering peri
AVI Products Open Offer Accepts 5,014 Shares
Mark Corporate Advisors submitted a post-offer advertisement for PPMS Real Estates LLP's open offer for AVI Products India.
The open offer to acquire 26% of AVI at ₹33/share closed with only 5,014 sha
Oxford Industries IDC Recommends Rs 5 Open Offer
Independent Directors Committee of Oxford Industries recommends shareholders accept open offer at Rs 5 per share.
Offer price deemed fair based on negative book value, infrequent trading, and independ
Oxford Industries Independent Directors Endorse Open Offer
Committee of Independent Directors deemed Saroj Kumar Choudhury's open offer for 26% stake fair and reasonable.
Open offer price set at ₹5 per share for 15.45 lakh equity shares.
Offer follows public
Emirates NBD RBL Bank Open Offer Zero Tenders
Disclosure confirms zero equity shares tendered in Emirates NBD's open offer for 26% stake in RBL Bank as of June 09, 2026.
The open offer is being made pursuant to SEBI SAST Regulations for acquisiti
Aspect Global's ₹2.29 Crore Iykot Hitech Open Offer
Aspect Global Ventures launches mandatory open offer for 26% of Iykot Hitech's voting capital at ₹8.50 per share, aggregating ₹2.29 crore.
The offer follows Aspect's acquisition of 34.58% stake and co
Sanginita Chemicals Open Offer for 26% Equity
Finshore Management announces open offer for Sanginita Chemicals to acquire 1.57 crore shares at ₹13.55 per share, representing 26% of expanded capital.
Board composition changed with resignations of
RBL Bank Open Offer Receives Zero Share Tenders
• J.P. Morgan discloses zero equity shares tendered in Emirates NBD's open offer for 26% of RBL Bank.
• The offer seeks to acquire up to 415,586,443 shares from public shareholders as per SEBI takeove
Skybridge Interactive LLP's ₹6 Open Offer for 25.32% of Baba Arts
Skybridge Interactive LLP is making a mandatory open offer to acquire up to 1,32,92,000 equity shares (25.32%) of Baba Arts Ltd. at ₹6 per share.
The offer is made under SEBI SAST Regulations 3(1) and
Sesha Sai Nikhil Chintalapati's 26% Open Offer for Neelkanth
Mr. Sesha Sai Nikhil Chintalapati triggers mandatory open offer for 26% of Neelkanth Rockminerals at ₹19.40/share, aggregating ₹2.54 crore.
Offer follows acquisition of 62.06% stake from seven promote