Special Situations & Event Driven › Sub-category
Open Offer / Takeover Battle
25 articles
A wave of corporate control shifts is reshaping the Indian equity landscape, driven by a surge in open offers and promoter stake sales. Several companies are undergoing changes in ownership, including Premier Explosives, Kronox Lab Sciences, Tikona Communication, Technojet Consultants, GSL Securities, Mayur Leather, Craftroot Retail, Fabino Enterprises, South India Paper Mills, and RR Metalmakers. These transactions, often triggered by share purchase agreements, involve new acquirers seeking to gain control and reclassify as promoters, while existing promoters exit their positions. The increased activity reflects a dynamic M&A environment and potential shifts in investor sentiment, highlighting the importance of monitoring corporate governance and control changes for assessing investment risks and opportunities.
Premier Explosives IDC Recommends Apollo Open Offer
Premier Explosives' Independent Directors Committee recommends Apollo Micro Systems' open offer for 26% stake at ₹705.65 per share as fair and reasonable.
The offer price of ₹698 per share plus ₹7.65
Kronox Lab Sciences 64.26% Stake Acquired by Indo Borax
Kronox Lab Sciences discloses completion of 64.26% stake sale by promoters to Indo Borax & Chemicals Limited.
Indo Borax becomes new promoter and launches mandatory 25.79% open offer for public shareh
Tikona Communication Promoters Exit Post Sar Televenture Acquisition
Sar Televenture Limited acquired 70.17% stake in Tikona Communication via share purchase and open offer completed on 28 September 2026.
Former promoters Gaurav Goyal (56.13%) and Rakesh Kumar Bansal (
Technojet Promoters Sell 73.15% Stake to Nimesh Singh
Promoters of Technojet Consultants entered a Share Purchase Agreement to sell their entire 73.15% stake to individual acquirer Nimesh Sahadeo Singh.
The total consideration for the 146,293 equity shar
GSL Securities Promoters Sell 44.62% Stake
GSL Securities discloses a Share Purchase Agreement for promoters to sell 44.62% stake to new acquirers.
Acquirers Mr. Shrikant Bhangdiya and family will pay ₹42 per share, totaling ₹8.01 crore for 1.
Ghanshyam Hansrajani Open Offer for 26% of Mayur Leather
Open offer for 26% equity stake in Mayur Leather Products at ₹27.92 per share triggered by promoter share purchase agreement.
Acquirer Ghanshyam Hansrajani to purchase 26.5% from existing promoters at
Craftroot Retail 34th AGM Notice and Annual Report
Craftroot Retail Limited submitted its 34th Annual Report for FY 2025-26 to BSE, reporting a net profit of ₹22.24 lakhs and recommending a final dividend of ₹0.05 per share.
The company underwent a si
Fabino Enterprises FY26 Loss, AGM, Subsidiary Sale
Fabino Enterprises reported a consolidated net loss of ₹55.87 lakhs for FY26, with revenue of ₹2240.44 lakhs, and proposed its 15th AGM for September 29, 2026.
The notice seeks shareholder approval fo
South India Paper Mills Open Offer for 26% at ₹120
Nandini Modi and Kirit Modi launch 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
Kronox Lab Sciences Promoters Sell 64.26% Stake
Promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal executed a Share Purchase Agreement to sell their collective 64.26% stake in Kronox Lab Sciences to Indo Borax & Chemicals.
The transac
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
Novartis AG Reclassified to Public Shareholder
Novartis AG completes sale of 70.68% stake in Novartis India to ChrysCapital entities, ceasing to be promoter.
ChrysCapital's WaveRise and Fund X acquire control, triggering a mandatory 26% open offer
Yoga Builders Acquires 15.4% Stake in TMT India
Yoga Builders Private Limited discloses acquisition of 7,62,990 shares (15.40%) in TMT (India) Limited through open offer tendering process.
Acquisition executed on July 27, 2026 at ₹10.00 per share f
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
Mitshi India Promoters Sell 15.57% Stake to Karronn Bajaj
Karronn Naresh Bajaj entered Share Purchase Agreement on July 23, 2026 to acquire 13,70,070 shares (15.57% stake) from Mitshi India promoters for ₹2.05 crore.
Acquisition triggers mandatory open offer
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
Ballygunge Trust's 26% Open Offer for Shankara Building
The Ballygunge Family Trust launches mandatory open offer for 26% stake in Shankara Building Products at ₹150/share.
Offer triggered by past acquisition non-compliance with SEBI SAST Regulations, aimi
Ashish Begwani Kkalpana Plastick Open Offer
Ashish Begwani makes mandatory open offer for 26% stake in Kkalpana Plastick Ltd at ₹28/share, triggered by acquiring 72.58% from promoters.
Offer size is ₹4.02 crore for 14,37,420 shares, with tender
Lakhani Entities Mandatory Open Offer for Rikhav Securities
Acquirers M/s. B.D. Lakhani, B.N. Lakhani, H.D. Lakhani, and N.D. Lakhani, along with four PACs, are making a mandatory open offer for 26% of Rikhav Securities Limited.
The offer, priced at ₹47.75 per
Gulshankumar Chopra Niraj Cement 26% Open Offer
Mandatory open offer by Gulshankumar Chopra to acquire up to 1,55,20,529 shares (26%) of Niraj Cement Structurals at ₹29 per share.
Offer triggered by Share Purchase Agreements to acquire 41.04% from
DP Global Wealth AMPL Capital 26% Open Offer
DP Global Wealth Management LLP and PACs launch mandatory open offer for 26% stake in AMPL Capital Ltd at ₹30/share, triggered by market purchases exceeding regulatory thresholds.
Offer aims to acquir
Ashish Begwani Open Offer for 26% of Kkalpana Plastick
Mr. Ashish Begwani launches mandatory open offer for 26% stake in Kkalpana Plastick Ltd at ₹28/share, triggered by a 72.58% acquisition from outgoing promoters.
The open offer, managed by VC Corporate
Grameva Limited New Promoters Assume Control
Board approved successful completion of open offer by new acquirers acquiring substantial shareholding and control.
New acquirers classified as Promoter/Promoter Group effective July 10, 2026, replaci
Restaurant Brands Asia Promoter Reclassification Effective July 7
Restaurant Brands Asia notifies stock exchanges of promoter reclassification effective July 7, 2026, following completion of open offer and share acquisition.
Acquirers Lenexis Foodworks, Aayush Agraw
Kkalpana Plastick Promoters Sell 72.58% Stake Triggering Open Offer
Promoters Bbigplas Poly and Sarla Surana entered SPA to sell 72.58% stake to Ashish Begwani on July 7, 2026.
Transaction triggers mandatory open offer for 26% of shares at ₹28 per share under SEBI SAS