Shah Foods Acquires TPTPL via Share Swap, Dual Preferential Allotment

Shah Foods Limited acquired 100% stake in Tandhan Power Technologies Private Limited via share swap valued at ~Rs. 99.28 crore.
Board allotted 1,58,85,037 equity shares at Rs. 62.50 each (non-cash) and 68,32,463 shares at Rs. 110 each (cash) on preferential basis.
Acquirers Ankit Jalan and Anuj Jalan along with PACs triggered an open offer under SEBI SAST Regulations and will become Promoters post-completion.
TPTPL, incorporated in 2018 in Kolkata, reported standalone turnover of Rs. 14,435.01 lakhs in FY2024–25 in power storage and backup solutions.