Sumedha Fiscal Services Limited, as Manager to the Offer, submitted a corrigendum to the Public Announcement dated November 02, 2026 regarding an open offer for AI Champdany Industries Limited.

The key modifications disclosed are:

Nature of Disclosure: Corrigendum to public announcement for open offer under SEBI (SAST) Regulations, 2011.

Key Changes:

  • Share Purchase Agreement dated November 02, 2026 between Gunny Dealers Limited (Acquirer 1) and Blancatex AG has been cancelled and will not be proceeded with
  • Share Purchase Agreement dated November 02, 2026 between G Jerambhai Exports Limited (Acquirer 2) and Jayshree Wadhwa remains valid and will be executed in accordance with original terms
  • Both Acquirers (Gunny Dealers Limited and G Jerambhai Exports Limited) will continue as joint acquirers for the open offer
  • Escrow Agreement dated November 02, 2026 and funds deposited by both Acquirers remain valid for open offer obligations

Offer Details Modification:

  • Offer size increased from 43,00,382 equity shares (13.98% of equity and voting share capital) to 79,95,997 equity shares (26% of equity share capital and 24.64% of equity and voting share capital)
  • Total consideration payable increased from ₹12,68,61,269 to ₹23,58,81,912
  • Face value of each equity share: ₹5

Capital Structure Clarification:

  • Equity Share Capital: ₹15,37,69,155 divided into 3,07,53,831 equity shares of ₹5 each
  • 2% Non-Convertible Cumulative Preference Share Capital: 1,24,14,353 shares of ₹5 each, carrying voting rights due to arrears of dividend for more than 2 years
  • 0.1% Non-Convertible Non-Cumulative Preference Share Capital: 1,32,50,000 shares of ₹5 each, with no voting rights

Shareholding Table Revisions: The corrigendum provides a comprehensive revised Table 3 showing pre-transaction shareholding, proposed shareholding after acquisition of sale shares, and proposed shareholding after open offer acceptance for all Acquirers and 16 Persons Acting in Concert (PACs), with Nirmal Pujara being the ultimate beneficial owner and controlling person for most entities.

Regulatory References: The open offer is being made pursuant to Regulations 3(2) read with 13(1), 14 and 15(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Financial Impact: The total financial commitment for the open offer increased to ₹23.59 crore from ₹12.69 crore due to the expanded offer size.