Key Quantitative Figures
- Offer to acquire up to 1,55,20,529 equity shares of ₹10 each
- Offer price: ₹29 per fully paid-up equity share
- Percentage of voting share capital: 26.00%
Dates of Action
- Public Announcement made: June 16, 2026
- Detailed Public Statement published: June 23, 2026
- Draft Letter of Offer submitted to SEBI: July 1, 2026
- SEBI final observations received: July 15, 2026 (Letter No. HO/49/12/11(70)2026-CFD-RAC-DCR1/V16413/2026)
- Letter of Offer dispatch completed: July 23, 2026
- Pre-offer advertisement published: July 30, 2026 in Financial Express (English), Jansatta (Hindi), and Navshakti (Marathi)
Parties Involved
Acquirer: Gulshankumar Vijaykumar Chopra
Target Company: Niraj Cement Structurals Limited (CIN: L26940MH1998PLC114307, BSE Code: 532986)
Manager to Offer: Navigant Corporate Advisors Limited (SEBI Registration No: INM000012243)
Designated Stock Exchange: BSE Limited
Committee of Independent Directors:
- Chairman: Mr. Ratan Umesh Sanil
- Member: Ms. Kavita Suresh Hindia
- Member: Mr. Partha Sarathi Raut
Key Developments
- The Independent Directors Committee of the Target Company opined that the offer price of ₹29 per share is in accordance with relevant regulations and prima facie justified
- No competitive bid was received for this offer
- The composition of the Independent Directors Committee was corrected: Mr. Vishram Pandurang Rudre was inadvertently mentioned instead of Mr. Partha Sarathi Raut in previous communications
- The Letter of Offer is available on SEBI website (www.sebi.gov.in) and Manager's website (www.navigantcorp.com)
Revised Schedule of Activities
| Activity | Original Date | Revised Date |
| Public Announcement | 16.06.2026 | 16.06.2026 |
| Publication of Detailed Public Statement | 23.06.2026 | 23.06.2026 |
| Submission to Stock Exchanges, Target Company & SEBI | 23.06.2026 | 23.06.2026 |
| Last date for filing draft letter of offer with SEBI | 01.07.2026 | 01.07.2026 |
| Last date for a Competing offer | 15.07.2026 | 15.07.2026 |
| Receipt of comments from SEBI on Draft Letter of Offer | 22.07.2026 | 15.07.2026 |
| Identified date* | 24.07.2026 | 17.07.2026 |
| Date for Letter of Offer dispatch to shareholders | 31.07.2026 | 24.07.2026 |
| Last date for revising the Offer Price | 05.08.2026 | 29.07.2026 |
| Comments from Committee of Independent Directors | 05.08.2026 | 29.07.2026 |
| Advertisement of schedule of activities | 06.08.2026 | 30.07.2026 |
| Date of Opening of the Offer | 07.08.2026 | 31.07.2026 |
| Date of Closure of the Offer | 20.08.2026 | 13.08.2026 |
| Post Offer Advertisement | 28.08.2026 | 20.08.2026 |
| Payment of consideration for acquired shares | 04.09.2026 | 28.08.2026 |
| Final report from Merchant Banker | 11.09.2026 | 04.09.2026 |
*Identified Date is for determining shareholders eligible to receive Letter of Offer. All owners of equity shares (except Acquirer, Sellers, existing Promoters, parties to underlying agreement, and persons acting in concert) are eligible to participate.
Facility for Acquisition
- BSE Limited shall be the Designated Stock Exchange
- Acquisition facility available on BSE and NSE through Separate Window (Acquisition Window)
- Eligible persons may participate through their respective Broker/Selling Broker
Material Changes
From the date of Public Announcement: NIL