Mandatory open offer for 97.5 lakh shares (26% stake) in Midland Polymers at ₹10/share, triggered by preferential allotment.
Five individual acquirers from clean energy background to gain 69.15% control via preferential issue of 1.49 crore shares and 1.1 crore warrants.
Target company shows consistent losses with negative net worth of ₹205.10 lakhs as of December 2025.
Offer price justified at ₹10 based on independent valuation as shares are infrequently traded on BSE.