Key Quantitative Figures

  • Offer to acquire: 27,74,970 equity shares (face value ₹10 each)
  • Percentage of expanded voting share capital: 25.57%
  • Offer price: ₹10.00 per share
  • Maximum consideration (full acceptance): ₹2,77,49,700.00 (Two Crore Seventy Seven Lakhs Forty Nine Thousand Seven Hundred)
  • Payment method: Cash

Dates of Action

  • Public Announcement date: Friday, March 13, 2026
  • Detailed Public Statement date: Saturday, March 21, 2026
  • Publication date of Detailed Public Statement: Monday, March 23, 2026
  • Draft Letter of Offer date: Wednesday, April 01, 2026
  • Letter of Offer date: Tuesday, June 23, 2026
  • Recommendations publication date: Wednesday, July 01, 2026

Parties Involved

Acquirers:

  • Mr. Jitesh Kothari (Acquirer 1)
  • Mr. Atul Jaiswal (Acquirer 2)
  • No persons acting in concert

Manager to the Offer:

  • JJ IPO Advisors Private Limited
  • SEBI Reg. No: INM000013253
  • Representative: Mr. Chetan Jagetiya, Director (DIN: 07973155)

Committee of Independent Directors (IDC) of Arco Leasing Limited:

1. Mrs. Khadija Taher Raniwala - Chairperson (DIN: 11237433)

2. Mr. Srikar Gopalrao Kowlikar - Member

3. Mrs. Jeny Gowadia - Member

4. Mrs. Usha Manish Ghelani - Member

5. Mr. Keyur Shah - Member

Publication Details

Recommendations of the Committee of Independent Directors were published in:

  • Financial Express (English daily) - All Editions
  • Jansatta (Hindi daily) - All Editions
  • Pratahkal (Marathi Daily) - Mumbai Edition

IDC Recommendations and Findings

  • All IDC members are Independent Directors of Arco Leasing Limited
  • None hold equity shares or other securities of the Target Company
  • No contract/relationship with Target Company beyond director appointments
  • No relationship with Acquirers
  • No trading in Target Company equity shares from PA date till recommendations date
  • Offer price determined in accordance with SEBI (SAST) Regulations parameters
  • Recommendations unanimously approved by IDC members
  • No independent advisors were appointed

Shareholder Guidance

The IDC advises shareholders to:

  • Independently evaluate the Open Offer via Letter of Offer dated June 23, 2026
  • Consider risk factors described therein
  • Review market performance of Equity Shares
  • Make informed decision in their best interests

Additional Information

The statement of recommendation is available on the Target Company's website: www.arcoleasing.com

Other Document Fragments (Secondary)

The data contains fragmented information about other companies:

  • Daffodil Software Private Limited (CIN: U74899HR1999PLC066889): Filed petition with NCLT Chandigarh for capital reduction from ₹2,35,69,000 to ₹2,19,49,000 by canceling 1,61,950 equity shares (6.87% of paid-up capital) held by public shareholders. Fair value determined at ₹188.19 per share by independent valuer. Next hearing date: July 23, 2026.
  • Photonics Watertech Limited (CIN: U27400GJ2011PLC065108): Filed Draft Red Herring Prospectus with NSE Emerge on June 30, 2026 for proposed IPO.

#Tags: #ArcoLeasing #OpenOffer #SEBIRegulations #IDCRecommendations #CorporateAction