J.A. Finance Limited Open Offer Recommendations

Key Quantitative Figures

  • Open offer for acquisition of up to 27,68,671 equity shares of face value ₹10 each
  • Represents 26.00% of total paid-up equity and voting share capital of JAFL
  • Offer price: ₹44.82 per equity share (including interest of ₹4.82 per share)
  • Interest computed at 10% p.a. for 440 days delay in RBI approvals

Dates of Action

  • Public Announcement date: January 28, 2025
  • Detailed Public Statement date: February 04, 2025
  • Draft Letter of Offer date: February 11, 2025
  • Letter of Offer date: September 30, 2026
  • Committee recommendations date: October 13, 2026
  • Publication in newspapers: October 14, 2026

Parties Involved

Acquirers: Mr. Sachin Ishwarchand Goyal, Mr. Numan Sachin Goyal, Mr. Salil Vijay Sathe

Manager to Offer: VC Corporate Advisors Private Limited (SEBI Regn No.: INM000011096)

Independent Directors Committee: Ms. Deepa Kumari Saha (Chairperson, DIN: 11106312), Mr. Amit Agarwal (Member, DIN: 07274291)

Financial Impact Assessment

  • Fair value determined by independent valuer: ₹28.93 per share
  • Negotiated price paid by acquirers: ₹27.00 per share
  • Offer price of ₹44.82 is higher than both fair value and negotiated price
  • Equity shares are infrequently traded with only 6.93% trading turnover on BSE
  • Shares currently under Enhanced Surveillance Measure (ESM): stage 1 on BSE

Committee Recommendations

The Independent Directors Committee recommends acceptance of the open offer, considering:

  • Offer price is compliant with SEBI (SAST) Regulations
  • Price is higher than fair value and negotiated price
  • No shareholder complaints received regarding offer or valuation
  • However, current market price is higher than offer price - shareholders advised to evaluate independently

International Travel House Limited Financial Results

Financial Performance (₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Total Income from Operations: 6,140.54
  • Net Profit before tax (before exceptional items): 742.89
  • Net Profit after tax: Not separately quantified for quarter
  • Total Comprehensive Income: 546.04
  • Earnings Per Share (Basic & Diluted): ₹6.87

Six Months Ended September 30, 2026:

  • Total Income from Operations: 11,873.14
  • Net Profit before tax: 1,495.18
  • Net Profit after tax: 1,113.30
  • Total Comprehensive Income: 1,106.59
  • Earnings Per Share (Basic & Diluted): ₹13.92

Comparative Figures (Quarter Ended September 30, 2025):

  • Total Income from Operations: 6,082.31
  • Net Profit before tax: 863.43
  • Net Profit after tax: 639.39
  • Total Comprehensive Income: 632.97
  • Earnings Per Share: ₹8.00

Capital Structure

  • Equity Share Capital: ₹799.45 lakhs (unchanged from previous period)
  • Face value per share: ₹10

Transport Corporation of India Limited Buyback Offer

Buyback Details

  • Buyback of up to 1,562,500 equity shares of face value ₹2 each
  • Buyback price: ₹960 per equity share
  • Total consideration: ₹150,000,000 (₹150 crores)
  • Mode: Tender offer through stock exchange mechanism

Important Dates

  • Record Date: October 9, 2026
  • Buyback Opens: October 15, 2026
  • Buyback Closes: October 22, 2026
  • Last date for tender forms: October 22, 2026 by 5:00 PM IST

Entitlement Ratio

Small Shareholders: 32 Equity Shares for every 257 shares held (12.4522233096057%)

Other Shareholders: 25 Equity Shares for every 418 shares held (5.9827180587835%)

Service Providers

Manager to Buyback: ICICI Securities Limited (SEBI Regn No.: INM000011179)

Registrar to Buyback: KFin Technologies Limited (SEBI Registration No.: INR000000221)

PGIM India Mutual Fund IDCW Declaration

Income Distribution Details

Record Date: October 16, 2026

PGIM India Arbitrage Fund:

  • Regular Plan - Monthly IDCW Option: ₹10.00 per unit (NAV: ₹11.2323)
  • Direct Plan - Monthly IDCW Option: ₹10.00 per unit (NAV: ₹11.4756)
  • Statutory Levy: ₹0.0772 and ₹0.0789 respectively

PGIM India Aggressive Hybrid Equity Fund:

  • Direct Plan - Monthly IDCW Option: ₹10.00 per unit (NAV: ₹23.5900)
  • Statutory Levy: ₹0.1632

PGIM India Equity Savings Fund:

  • Regular Plan - Monthly IDCW Option: ₹10.00 per unit (NAV: ₹12.0720)
  • Direct Plan - Monthly IDCW Option: ₹10.00 per unit (NAV: ₹13.3538)
  • Statutory Levy: ₹0.0830 and ₹0.0918 respectively

Distribution Conditions

  • Subject to availability of distributable surplus
  • NAV will fall to extent of payout and statutory levy
  • Unit holders must have PAN, KYC updated and PAN linked with Aadhaar

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