Offer Details

The open offer is to acquire up to 2,60,00,000 (Two Crore Sixty Lakh) equity shares of Jai Mata Glass Limited, representing 26.00% of the paid-up equity share capital. The offer price is ₹1.85 per equity share, payable in cash.

Key Dates and Timeline Revisions

The document provides a revised schedule of activities as directed by SEBI:

  • Identified Date (for determining shareholders): Revised to August 7, 2026 (Friday) from original August 19, 2026
  • Letter of Offer Dispatch Date: Revised to August 14, 2026 (Friday) from original August 27, 2026
  • Offer Opening Date: Revised to August 21, 2026 (Friday) from original September 3, 2026
  • Offer Closing Date: Revised to September 4, 2026 (Friday) from original September 17, 2026
  • Completion Date: Revised to September 21, 2026 (Monday) from original October 1, 2026
  • Independent Directors Committee Recommendation Date: Revised to August 18, 2026 (Tuesday) from original August 31, 2026

Regulatory Compliance and SEBI Directives

The document incorporates several SEBI-mandated corrections:

1. Added detailed inspection procedures for material documents, available physically at Manager's office (D-28, South Extn. Part-I, New Delhi) and electronically via virtual data room upon request

2. Removed the phrase "to the best of the knowledge" from clause 7.4.1 regarding statutory approvals

3. Added statement in clause 3.3 that acquirers have no proposals with adverse material impact on employees or business locations

4. Corrected Target Company telephone numbers from 022-66239358 to 0179-2255177 / 2255359 / 41536830

Offer Implementation

The open offer will be implemented through the stock exchange mechanism via an 'Acquisition Window' as per SEBI circulars CIR/CFD/POLICY/CELL/1/2015 dated April 13, 2015, and subsequent amendments. Nikunj Stock Brokers Limited has been appointed as the Buying Broker for the open offer.

Shareholder Participation Procedures

  • The Letter of Offer was dispatched to all equity shareholders as of the Identified Date (August 7, 2026)
  • Physical share holders must approach Selling Brokers who will place bids on the designated stock exchange platform
  • Dematerialized share holders may participate through their respective Selling Brokers
  • Forms are available on SEBI website (www.sebi.gov.in), BSE website (www.bseindia.com), and Manager's website (www.corporateprofessionals.com)

Independent Directors Committee Recommendation

The Independent Directors Committee has recommended that the offer price of ₹1.85 per share is in compliance with applicable regulations and can be considered fair and reasonable. This recommendation was published on August 18, 2026.

Document History

The Detailed Public Statement was originally published on July 20, 2026, in Financial Express (English), Jansatta (Hindi), and Prathakal (Marathi) newspapers.

#Tags: #JaiMataGlass #OpenOffer #SEBIRegulations #TakeoverCode #CorporateActions