Public Announcement of Open Offer for Inani Securities Limited

Offer Details

  • Offer Size: Up to 11,85,002 fully paid-up Equity Shares of face value ₹10.00 each
  • Percentage of Capital: 26.00% of the fully paid-up Equity and Voting Share Capital
  • Offer Price: ₹60.00 per Equity Share
  • Total Consideration: ₹7,11,00,120 (assuming full acceptance)
  • Mode of Payment: Cash payment as per Regulation 9(1)(a) of SEBI (SAST) Regulations
  • Type of Offer: Triggered/Mandatory Offer under Regulation 3(1) and Regulation 4

Underlying Transaction Triggering the Offer

The Acquirer has entered into a Share Purchase Agreement ('SPA') dated Monday, October 12, 2026 with the existing Promoters of Inani Securities Limited to acquire:

  • Number of Shares: 25,94,214 Equity Shares of ₹10.00 each
  • Percentage of Capital: 56.92% of Equity and Voting Share Capital
  • Purchase Consideration: ₹15,56,52,840
  • Mode of Transaction: Direct acquisition via Share Purchase Agreement
  • Payment Mode: Cash

This acquisition will result in the Acquirer obtaining control over the Target Company and being identified as Promoter under SEBI (LODR) Regulations, 2015.

Acquirer Details

  • Name: Aikyam Financial Services Private Limited
  • PAN: ABFCA0087Q
  • Persons in Control: Mr. Nilesh Jugalkishore Choudhary and Ms. Megha Nilesh Choudhary
  • Group Affiliation: Aikyam Capital Group
  • Pre-Transaction Shareholding: Nil shares (0%)
  • Proposed Post-SPA Shareholding: 25,94,214 shares (56.92%)
  • Other Interests in Target Company: None as of the date of Public Announcement

Selling Shareholders Details

The offer involves 14 Selling Shareholders who are all existing Promoters of Inani Securities Limited:

1. Mr. Ramakanth Inani (Seller 1) - 6,66,300 shares (14.62%)

2. Mr. Vishnukant Inani (Seller 2) - 3,17,000 shares (6.96%)

3. Mr. Venugopal Inani* (Seller 3) - 2,96,000 shares (6.49%)

4. Mr. Lakshmikanth Inani (Seller 4) - 2,25,800 shares (4.95%)

5. Ms. Pramila Devi Inani (Seller 5) - 80,600 shares (1.77%)

6. Ms. Anuradha Inani (Seller 6) - 95,800 shares (2.10%)

7. Ms. Anita Inani (Seller 7) - 76,800 shares (1.69%)

8. Mr. Bharat Kumar Inani (Seller 8) - 73,200 shares (1.61%)

9. Mr. Srikumar Inani (Seller 9) - 72,400 shares (1.59%)

10. Ms. Champadevi Inani (Seller 10) - 57,800 shares (1.27%)

11. Ramakanth Inani HUF (Seller 11) - 62,600 shares (1.37%)

12. Dhanshree Syntex Private Limited (Seller 12) - 2,00,000 shares (4.39%)

13. Inani Commodities and Finance Limited (Seller 13) - 3,09,914 shares (6.80%)

14. L.K.I. Securities Private Limited (Seller 14) - 60,000 shares (1.32%)

Total Pre-Transaction Holding: 25,94,214 shares (56.92%)

Post-Transaction Holding: 0 shares (0.00%) for all sellers

*Special Note regarding Mr. Venugopal Inani: The document notes that Mr. Venugopal Inani passed away on December 29, 2022. His shares (registered in his name) are pending transmission to his wife and registered nominee, Mrs. Pramila Devi Inani, pending completion of transmission formalities.

Target Company Details

  • Name: Inani Securities Limited
  • Corporate Office: Office No. 1408, 14th Floor, Naman Midtown B-wing, Senapati Bapat Marg, Next to Indiabulls Finance Center, Prabhadevi, Mumbai - 400013
  • Fax: 040-23203747
  • Stock Exchange Listing: BSE Limited
  • Business: SEBI registered Stock Broker, Clearing Member, trading member with BSE and NSE, and registered depository participant with CDSL

Regulatory Approvals Required

The acquisition is subject to approvals from SEBI, BSE, NSE, CDSL, and relevant Clearing Corporations under SEBI (Stock Brokers) Regulations, 1992 read with SEBI (Depositories and Participants) Regulations, 2018 and SEBI Master Circular dated May 17, 2023.

Additional Offer Conditions

  • The offer is not conditional upon any minimum level of acceptance (Regulation 19(1) of SEBI (SAST) Regulations)
  • No competing offer exists (Regulation 20)
  • The Acquirer intends to retain the listing status of the Target Company with no delisting proposed
  • Detailed Public Statement will be published in newspapers on or before Monday, 19th October, 2026
  • The Acquirer has provided undertaking of compliance with SEBI (SAST) Regulations and adequate financial resources

Manager to the Offer

  • Name: Bonanza Portfolio Limited
  • Address: Bonanza House, Plot No. M-2, Cama Industrial Estate, Walbhat Road, Behind The Hub, Goregaon (East), Mumbai - 400 063
  • Contact Persons: Ms. Swati Agrawal / Mr. Abhay Bansal
  • SEBI Registration No.: INM000012306

Place: Mumbai

Date: Monday, October 12, 2026