Ownership & Market Activity › Sub-category
Open Offer / Takeover Battle
80 articles
A wave of mandatory open offers is reshaping corporate control in India, driven by recent promoter stake acquisitions and preferential allotments. Several companies, including G-Tec Jainx Education, Oscar Global, GSL Securities, and ECS Biztech, are facing open offers triggered by these transactions, requiring acquirers to extend their ownership to public shareholders. Additionally, larger deals like GRT Jewellers' acquisition of TBZ and Indo Borax's move for Kronox Lab Sciences are also proceeding through open offer mechanisms. These developments highlight increased regulatory scrutiny and the ongoing trend of consolidation within the Indian market, potentially impacting minority shareholder rights and corporate governance practices as acquirers seek to solidify their control.
G-Tec Jainx Education 26% Open Offer at ₹29
G-Tec Education Private Limited and Roychand Chenraj launch a mandatory open offer for 26% of G-Tec Jainx Education shares at ₹29 per share.
The offer is triggered by their acquisition of a 12% stake
JBCG Advisory's ₹1.84 Crore Oscar Global Open Offer
• JBCG Advisory Services launches mandatory open offer for 18.36 lakh shares (3.60%) of Oscar Global at ₹10/share, triggered by preferential allotment and promoter share purchase.
• Open offer size re
GSL Securities Open Offer for 26% at ₹42/Share
Mark Corporate Advisors published a Detailed Public Statement for an open offer by the Bhangdiya family to acquire 26% of GSL Securities Ltd at ₹42 per share.
The offer, triggered by a separate promot
Skyways Air Q1 Revenue Surges 91% YoY to ₹121.65 Crore
Skyways Air Services reported unaudited consolidated Q1 FY27 revenue of ₹121.65 crore, up 91% YoY, with profit after tax of ₹2.68 crore.
Novus Capital issued corrigendum to Ishaan Infrastructures open
Nimesh Singh Open Offer for 26% of Oseaspre Consultants
Navigant Corporate Advisors appointed as Manager for an open offer by Nimesh Singh to acquire 1,82,000 shares (26%) of Oseaspre Consultants at ₹48 per share.
Offer triggered by a preferential allotmen
Arnold Holdings Open Offer Corrigendum Adds PAC Details
Sobhagya Capital issues corrigendum to Arnold Holdings open offer announcement, adding omitted PAC details.
Open offer for 39% stake at ₹12.50/share triggered by acquirers' share purchase agreement.
A
ECS Biztech Open Offer for 26% at ₹10.50/share
Beeline Capital Advisors submits pre-offer advertisement and corrigendum for an open offer to acquire 26% of ECS Biztech Limited.
The offer price is set at ₹10.50 per equity share, deemed fair and rea
Corporate Makers Submits Cubical Financial Open Offer Advertisement
Corporate Makers Capital Ltd submits pre-offer advertisement for open offer by Manoj Agrawal and Amit Kumar Saraogi to acquire 26% stake in Cubical Financial Services Ltd.
Mumbai Municipal Corporation
GRT Jewellers INR 431 Crore TBZ Open Offer
GRT Jewellers launches mandatory open offer for 25.88% of TBZ at INR 249.61 per share, aggregating INR 431 crore, triggered by a promoter stake acquisition.
The offer follows a share purchase agreemen
Neelkanth Rock-Minerals 26% Open Offer Completion
Mark Corporate Advisors submitted a post-offer advertisement for an open offer to acquire 26% of Neelkanth Rock-Minerals at ₹19.40 per share.
The open offer period ran from August 18, 2026, to Septemb
Jai Mata Glass Open Offer Results: 1084 Shares Tendered
Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust completed an open offer for 26% of Jai Mata Glass Limited shares at ₹1.85 per share.
The offer received only 1,084 shares against the intende
Niks Technology Open Offer for 26% at ₹136/Share
Acquirers Nilesh Patel, Vishal Patel, and Bharatkumar Keshrani launch a mandatory open offer for 26% of Niks Technology at ₹136 per share.
The offer is triggered by a preferential allotment of shares
ECS Biztech FY26 Net Profit Rises to ₹2.96 Lakh
ECS Biztech reported FY26 standalone revenue of ₹190.30 lakh and net profit of ₹2.96 lakh, with a strategic alliance with STT Global Data Centers.
Promoters entered a share purchase agreement to sell
SBEC Systems FY26 Net Profit Falls 38% to ₹151 Lakh
SBEC Systems reported FY26 standalone net profit of ₹151.26 lakh, down 38% YoY, with revenue from solar power generation and technical services at ₹394.80 lakh.
The company is pursuing a selective cap
Colinz Laboratories Open Offer Receives Only 6 Shares
Post-offer advertisement discloses results of mandatory open offer for Colinz Laboratories Limited by the Dugar acquirer group.
Open offer to acquire 26% stake at ₹54 per share received only 6 equity
Indo Borax Mandatory Open Offer for Kronox Lab Sciences
Indo Borax and Chemicals Limited makes a mandatory open offer for 25.79% of Kronox Lab Sciences Limited's equity shares at ₹157.27 per share pursuant to SEBI SAST Regulations.
The offer follows a shar
Shankara Building Products Open Offer for 26% at ₹150
Corporate Professionals Capital issued an open offer announcement on behalf of The Ballygunge Family Trust to acquire up to 26.00% of Shankara Building Products at ₹150 per share.
The offer period is
Karronn Bajaj Mitshi India 26% Open Offer ₹15/Share
Mr. Karronn Bajaj makes mandatory open offer for 26% stake (22.88 lakh shares) in Mitshi India Ltd at ₹15 per share.
Independent Directors Committee unanimously recommends the offer as fair and in lin
Modi Family Open Offer for 26% of South India Paper
Nandini and Kirit Modi announce mandatory open offer for 26% stake in South India Paper Mills at ₹120 per share.
Offer triggered by Share Purchase Agreement to acquire 20.21% from Harshad and Rajul Mo
Anupam Rasayan Bliss GVS Open Offer 1,669 Shares Acquired
Anupam Rasayan India Limited's open offer for 26% of Bliss GVS Pharma concluded with only 1,669 shares tendered and accepted, a tiny fraction of the 2.77 crore shares offered.
The acquirer paid ₹299 p
GRT Jewellers Open Offer for 25.88% of TBZ
GRT Jewellers announces mandatory open offer for 25.88% of TBZ shares at ₹249.61 per share, totaling ₹431.10 crore.
Offer triggered by acquisition agreement to buy 74.12% stake from TBZ promoters for
Aar Shyam Open Offer for 26% Equity at ₹15/Share
Acquirers Radha Krishna Avudari, Sudha Rani Avudari, and Nagabhyru Srikanth launch mandatory open offer for 26% of Aar Shyam India's emerging paid-up capital.
Offer triggered by Share Purchase Agreeme
Darsh Advisory Open Offer for 26% of Kenrik Industries
Darsh Advisory Private Limited triggers mandatory open offer to acquire up to 26.00% of Kenrik Industries Limited's equity shares from public shareholders.
The offer is triggered by Darsh Advisory's a
Mandavia Open Offer for 26% of ACI Infocom
Mandatory open offer by Sanjay and Rupal Mandavia to acquire up to 3.70 crore shares (26%) of ACI Infocom at ₹1.53 per share.
Offer triggered by preferential allotment of 3.20 crore shares and 29.48 c
Amar Talwar's Open Offer for 26% of Jay Kailash Namkeen
Mr. Amar Pramod Talwar launches mandatory open offer for 21.77 lakh shares (26%) of Jay Kailash Namkeen at ₹56 per share.
Offer follows preferential allotment of 33.74 lakh shares (40.31%) to Talwar v
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
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
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