Mandatory open offer by Radhe Dhokla Private Limited and four individuals to acquire up to 19,20,000 equity shares (25.60%) of Shantai Industries Limited from public shareholders at ₹21 per share.
Offer triggered by Share Purchase Agreement to acquire 74.40% stake from existing promoters for ₹11.50 per share, resulting in change of control.
Tendering period runs from May 26, 2026 to June 09, 2026, with maximum consideration of ₹4.03 crore payable in cash.
Offer size restricted to public shareholding of 25.60% instead of regulatory minimum 26% as acquirers are purchasing entire promoter stake of 74.40%.