Key Quantitative Figures
- Offer Price: ₹10.00 per equity share
- Total Shares Offered: 27,74,970 equity shares
- Maximum Consideration: ₹2,77,49,700.00 (assuming full acceptance)
- Payment Method: Cash
Dates of Action
- Public Announcement Date: March 13, 2026
- Detailed Public Statement Date: March 21, 2026 (published March 23, 2026)
- Draft Letter of Offer Date: April 01, 2026
- Letter of Offer Date: June 23, 2026
- Independent Directors Committee Recommendations Date: June 30, 2026 (published July 01, 2026)
- Offer Opening Public Announcement Date: July 02, 2026
- Identified Date: June 18, 2026
- Letter of Offer Dispatch Date: June 25, 2026
- Tendering Period: July 03, 2026 to July 16, 2026 (both days inclusive)
- Last Date for Payment/Refund: July 30, 2026
- Last Date for Post-Offer Report Filing: August 06, 2026
Parties Involved
Acquirers: Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal
Target Company: Arco Leasing Limited (Scrip Code: 511038, CIN: L65910MH1984PLC031957)
Manager to Offer: JJ IPO Advisors Private Limited (SEBI Reg. No: INM000013253)
Registrar to Offer: Integrated Registry Management Services Private Limited (SEBI Reg. No: INR000000544)
Depository Participant: Sunflower Broking Private Limited
Subsidiary: Ansu Trade & Fiscals Private Limited (CIN: U65100WB1990PTC049122)
Financial Information of Target Company (Audited)
Standalone Financials (₹ in Lakhs):
- FY2026: Paid-up capital ₹24.01, Other Equity (₹123.27), Net Worth (₹99.26), Total Revenue ₹8.17, Net Loss (₹56.13), EPS (₹23.38)
- FY2025: Paid-up capital ₹24.01, Other Equity (₹119.26), Net Worth (₹95.25), Total Revenue ₹1.41, Net Loss (₹11.24), EPS (₹4.68)
- FY2024: Paid-up capital ₹24.01, Other Equity (₹83.06), Net Worth (₹59.05), Total Revenue ₹1.28, Net Loss (₹12.33), EPS (₹5.13)
Consolidated Financials (₹ in Lakhs):
- FY2026: Net Worth (₹95.25), Total Revenue ₹24.77, Net Loss (₹37.62), EPS (₹15.67)
- FY2025: Net Worth (₹57.63), Total Revenue ₹18.82, Net Profit ₹1.41, EPS ₹0.59
- FY2024: Net Worth (₹59.04), Total Revenue ₹16.13, Net Loss (₹39.03), EPS (₹16.25)
RBI Approvals for Subsidiary
- Change in Control Approval: Reference KOL.DOR.NOS591/01-01-001/2025-2026 dated June 19, 2026 (valid for one year)
- Change in Management Approval: Reference KOL.DOR.NO.S570/01-01-005/2026-27 dated June 18, 2026 (valid until June 1, 2031)
Preferential Issue Status
- Board Approval: March 13, 2026 for issuance of up to 1,06,13,500 equity shares at ₹10.00 per share
- Shareholder Approval: Extraordinary General Meeting held on April 13, 2026
- In-Principle Approval: Received from BSE on June 29, 2026
Additional Shareholding Details
Acquirers and their spouses hold Cumulative Redeemable Preference Shares:
- Jitesh Kothari: 83.333 shares (33.33%) acquired January 13, 2026
- Atul Ramshankar Jaiswal: 83.333 shares (33.33%) acquired January 13, 2026
- Khushali Gahlot (wife of Acquirer-1): 41.667 shares (16.67%) acquired February 13, 2026
- Sadhana Jaiswal (wife of Acquirer-2): 41.667 shares (16.67%) acquired February 13, 2026
Net Worth of Acquirers (as of March 09, 2026)
- Jitesh Kothari: ₹745.522 Lakhs (certified by CA K. Vikram Singh)
- Atul Ramshankar Jaiswal: ₹755.315 Lakhs (certified by CA K. Vikram Singh)
Procedure for Acceptance
- Physical Shareholders: Participate through Selling Broker with Form SH-4
- Dematerialized Shareholders: Intimate Selling Broker registered with BSE during tendering period
- Escrow Account: Special escrow depository account in name of "JITESH KOTHARI" with Sunflower Broking Private Limited (DP ID: 12064600, Client ID: 00179523)
Key Risk Factors
- Tendered shares cannot be withdrawn during tendering period
- Lien marked on tendered shares, cannot be traded during offer period
- Acceptance in case of oversubscription will be on proportionate basis
- No assurance regarding future financial performance of Target Company
Publication Details
Published in Financial Express (English daily - All Editions), Jansatta (Hindi daily - All Editions), and Pratahkal (Marathi Daily - Mumbai Edition)