Offer Details

The open offer was made by Mr. Jitesh Kothari (Acquirer 1) and Mr. Atul Ramshankar Jaiswal (Acquirer 2) to acquire up to 27,74,970 equity shares of face value ₹10.00 each, representing 25.57% of the expanded voting share capital of Arco Leasing Limited from public shareholders.

  • Offer Price: ₹10.00 per equity share
  • Maximum Consideration: ₹2,77,49,700.00 (assuming full acceptance)
  • Mode of Payment: Cash
  • Offer Size: 27,74,970 shares × ₹10.00 = ₹2,77,49,700.00

Regulatory Timeline

Key dates in the offer process:

  • Public Announcement Date: March 13, 2026
  • Detailed Public Statement Publication: March 23, 2026 (Financial Express, Jansatta, Pratahkal)
  • Draft Letter of Offer filed with SEBI: April 01, 2026
  • SEBI Observation Letter received: June 16, 2026 (Reference: SEBI/HO/49/12/11(62)2026-CFD-RAC-DCR2/I/13906/2026)
  • Identified Date: June 18, 2026
  • Letter of Offer Dispatch: June 25, 2026
  • Recommendations of Independent Directors Committee: June 30, 2026 (published July 01, 2026)
  • Offer Opening Date: July 03, 2026
  • Offer Closing Date: July 16, 2026
  • Payment Due Date: July 30, 2026

Market Price Information

The equity shares of Arco Leasing Limited were infrequently traded on BSE Limited. The total trading turnover during the preceding twelve months (March 01, 2025 to February 28, 2026) was 2,000 shares (0.83% of total shares) with total turnover of 2,40,070. The shares were not traded on any key dates including the public announcement date, offer opening date, or offer closing date.

Escrow Arrangements

Acquirers created an escrow account named 'JITESH KOTHARI ARCO LEASING OPEN OFFER ESCROW ACCOUNT' with Axis Bank Limited:

  • Account Creation Date: March 13, 2026
  • Total Deposit: ₹73,00,000.00 (more than 25% of total consideration)
  • Deposit Schedule: ₹50,000 on March 13, 2026 and ₹72,50,000 on March 16, 2026
  • Bank Branch: Andheri east Branch, Corporate centre, Gr Floor, CTS No.271, Andheri Kurla Road, Andheri East Mumbai - 400059
  • Release from Escrow: ₹4,500 each transferred to special escrow account and to Sunflower Broking Private Limited on July 21, 2026

Offer Response and Acceptance

  • Equity Shares Proposed: 27,74,970 shares (25.57% of expanded voting capital)
  • Equity Shares Tendered: 300 shares (0.011% of offer size)
  • Response Level: 0.0001 times
  • Equity Shares Accepted: 300 shares (100% of tendered shares)
  • Equity Shares Rejected: Nil
  • Reason for Rejection: Not Applicable

Payment of Consideration

  • Due Date for Payment: July 30, 2026
  • Actual Payment Date: July 30, 2026 (no delay)
  • Special Account: Axis Bank Limited, Trishul, 3rd Floor, Opposite Samarth shear temple, Law Garden Ellis bridge Ahmedabad - 380006
  • Payment Mode: Electronic mode (ECS/direct transfer)
  • Number of Shareholders Paid: Not specified
  • Number of Shares Paid: 300
  • Amount of Consideration: ₹3,000.00

Shareholding Changes

Pre-Offer Shareholding (Pre-Preferential Issue):

  • Total Shares: 2,40,070 (100%)
  • Erstwhile Promoters: 1,28,600 shares (53.57%)
  • Public Shareholders: 1,11,470 shares (46.43%)

Post-Offer Shareholding (Post-Preferential Issue):

  • Total Expanded Voting Share Capital: 1,08,53,570 shares (100%)
  • Acquirers' Total Holding: 80,78,900 shares (74.44%)
  • From Share Purchase Agreement: 1,28,600 shares (1.18%)
  • From Share Subscription Agreement: 79,50,000 shares (73.25%)
  • From Open Offer: 300 shares (0.011%)
  • Public Shareholding: 27,74,670 shares (25.56%)

Acquisition Details:

  • Acquirer 1 acquired: 150 shares
  • Acquirer 2 acquired: 150 shares
  • Purchase Price: ₹10.00 per equity share
  • Date of Acquisition: July 30, 2026
  • Seller: Ms. Pushpa Anand Sonthalia (identifiable seller)

Public Shareholding Requirements

  • Minimum Public Shareholding Required: 27,13,393 shares (25.00%)
  • Actual Public Shareholding Post-Offer: 27,74,670 shares (25.56%)
  • The company maintains compliance with minimum public shareholding requirements.

Letter of Offer Dispatch

  • Total Public Shareholders: 108
  • Shares in Demat: 1,01,070 shares (90.67%)
  • Shares in Physical: 10,400 shares (9.33%)
  • Dispatch Date: June 25, 2026
  • Dispatch Mode: Registered Mail & Post
  • All 108 shareholders received the Letter of Offer

Additional Information

  • The acquirers will consummate the Share Purchase Agreement and Share Subscription Agreement transaction in accordance with Regulation 22(1) of SEBI (SAST) Regulations.
  • The acquirers will make an application for reclassification as promoters of the Target Company in accordance with Regulation 31A(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • The Share Purchase Agreement had not been consummated as of the report date.