Key Quantitative Figures

  • Open offer size: 56,43,612 equity shares (26.00% of voting share capital)
  • Offer price: ₹12 per equity share
  • Total maximum consideration: ₹6,77,23,344
  • Promoter stake acquisition: 1,08,58,186 shares (50.02%) at ₹12 per share totaling ₹13,02,98,232
  • Escrow amount deposited: ₹1,70,00,000 (more than 25% of maximum consideration)
  • Individual net worth of acquirers: Sandeep Jain (₹33.90 crore), Vikas Garg (₹41.90 crore), Rahul Nagar (₹13.87 crore), Neha Agarwal (₹16.97 crore)

Dates of Action

  • Public Announcement date: July 24, 2026
  • Detailed Public Statement date: July 30, 2026
  • Company receipt of DPS: July 31, 2026
  • Identified Date: September 02, 2026
  • Tendering period: September 17, 2026 to September 30, 2026
  • Payment completion by: October 15, 2026

Parties Involved

Acquirers: Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar

PAC: Mrs. Neha Agarwal

Manager to Offer: Fintellectual Corporate Advisors Private Limited

Escrow Banker: Yes Bank Limited (Account No: 078566200000016)

Buying Broker: Nikunj Stock Brokers Limited

Registrar to Offer: Skyline Financial Services Private Limited

Promoter Seller: M/s Sri Saradha Logistics Private Limited

Purpose and Rationale

The open offer is triggered by the acquisition of 50.02% promoter stake through Share Purchase Agreement. The prime objective is substantial acquisition of equity shares and voting rights to exercise effective control over the management and affairs of the Target Company.

Financial and Operational Impact

  • Post-offer shareholding (assuming full acceptance): Acquirers and PAC will hold 94.45% of voting share capital
  • Public shareholding will fall below minimum 25% requirement under SCRR Rule 19A
  • Acquirers undertake to facilitate compliance with minimum public shareholding requirements
  • Current workforce will be maintained with future changes implemented considering business needs and employee welfare
  • Existing business line will continue with possible future diversification subject to shareholder approval

Capital Structure Impact

  • Pre-transaction promoter holding: 50.02% (1,08,58,186 shares)
  • Post-SPA acquisition: Acquirers hold 50.02%
  • Post-open offer (full acceptance): Total holding 94.45% (2,05,01,798 shares)
  • Resulting dilution of public shareholding from 49.98% to 5.55%

Conditions and Approvals

  • Mandatory RBI approval required due to Target Company's status as Authorized Dealer (Category II)
  • Application already made to RBI for change in control and management
  • Offer not conditional upon minimum acceptance level
  • No other statutory approvals identified as required currently

Share Purchase Agreement Details

  • Sellers hold 1,08,58,186 shares (50.02%) free from charges, encumbrances, and lock-in
  • Negotiated price: ₹12 per share aggregating ₹13,02,98,232
  • Upon completion, acquirers will be replaced as promoters of the company

Financial Arrangements

  • Funds arranged through own sources/net worth without borrowings
  • Escrow account established with Yes Bank Limited with ₹1.70 crore deposit
  • Chartered accountant certification confirms sufficient resources for offer implementation

Publication Details

Detailed Public Statement published in:

  • Financial Express (English, All Editions) on July 30, 2026
  • Jansatta (Hindi, All Editions) on July 30, 2026
  • Pratahkal (Marathi, Mumbai Edition) on July 30, 2026
  • Makkal Kural (Tamil, Chennai Edition) on July 30, 2026

Additional Company Information

  • Original incorporation: November 08, 1985 as Anura Finance Limited
  • Current CIN: L65191TN1985PLC012362

The data also contains separate financial results disclosures for:

1. SMFG India Home Finance Co. Ltd. - Unaudited financial results for quarter ended June 30, 2026 showing total revenue of ₹12,600 lakh and net profit of ₹1,267 lakh

2. Go Fashion (India) Limited - Unaudited financial results for quarter ended June 30, 2026 approved by board on July 30, 2026

3. HSBC Mutual Fund - Notice regarding hosting of Annual Report and Abridged Annual Report for year ended March 31, 2026

4. Accelya Solutions India Limited - Consolidated financial results for year ended June 30, 2026 showing total revenue of ₹53,226.66 lakh and net profit of ₹9,537.92 lakh, with recommended final dividend of ₹35 per equity share

These are separate corporate disclosures unrelated to the India Cements Capital open offer.