Public Announcement Details

Nature of the Event

This is a mandatory open offer (triggered offer) made pursuant to Regulation 3(1) and Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer is being made by the Acquirers through Corporate Professionals Capital Private Limited, who acts as the Manager to the Offer.

Key Quantitative Figures

  • Open Offer Size: 2,60,00,000 Equity Shares
  • Percentage of Paid-up Capital: 26.00%
  • Offer Price per Share: ₹1.85
  • Total Maximum Consideration: ₹4,81,00,000 (if offer is fully accepted)
  • Target Company Paid-up Capital: ₹10,00,00,000 divided into 10,00,00,000 equity shares of ₹1.00 each

Underlying Transaction Details

  • Triggering Event: Share Purchase Agreement (SPA) dated July 13, 2026
  • SPA Shares Acquired: 4,45,65,460 Equity Shares
  • SPA Percentage: 44.57% of paid-up equity share capital
  • SPA Consideration: ₹8,24,46,101
  • SPA Price per Share: ₹1.85
  • Mode of Payment: Cash

Dates of Action

  • SPA Execution Date: July 13, 2026
  • Public Announcement Date: July 13, 2026
  • Detailed Public Statement Publication Deadline: On or before July 20, 2026 (Monday)

Parties Involved

Acquirers:

1. Mr. Ashwani Gulati (Acquirer 1) - Individual

2. Ms. Kiran Gulati (Acquirer 2) - Individual

3. M/s Veerasha Trust (Acquirer 3) - Trust

Sellers (Promoter Group):

1. Ms. Anu Marwah - 2,49,22,960 shares (24.92%)

2. Mr. Inesh Marwah - 73,600 shares (0.07%)

3. M/s. J P Overseas Private Limited - 1,95,68,900 shares (19.57%)

Manager to the Offer: Corporate Professionals Capital Private Limited

Target Company: Jai Mata Glass Limited (CIN: L26101HP1981PLC004430)

Acquirer Details

Residential/Registered Addresses:

  • Mr. Ashwani Gulati: A-14, Suncity, Sector 54, Wazirabad (75), P.O. Wazirabad, District Gurgaon, Haryana - 122003
  • Ms. Kiran Gulati: A-14, Suncity, Sector 54, Wazirabad (75), P.O. Wazirabad, District Gurgaon, Haryana - 122003
  • M/s Veerasha Trust: UG 31, Vishal Tower, District Centre, Janakpuri, New Delhi - 110058, India

Control Structure:

  • Acquirer 1 (Ashwani Gulati) serves as the Managing Trustee of Acquirer 3 (Veerasha Trust)
  • Acquirer 2 (Kiran Gulati) serves as the Co-Trustee of Acquirer 3
  • Both Acquirer 1 and Acquirer 2 are also the settlors of Acquirer 3

Proposed Shareholding Post-SPA Acquisition:

  • Mr. Ashwani Gulati: 1,48,55,154 shares (14.86%)
  • Ms. Kiran Gulati: 1,48,55,153 shares (14.86%)
  • M/s Veerasha Trust: 1,48,55,153 shares (14.85%)
  • Total: 4,45,65,460 shares (44.57%)

Offer Terms and Conditions

  • Type of Offer: Triggered/Mandatory Offer
  • Mode of Payment: Cash
  • Acceptance Condition: Not conditional upon any minimum level of acceptance
  • Financial Arrangements: Acquirers have adequate resources and firm financial arrangements for financing the acquisition

Publication Requirements

The Detailed Public Statement will be published in:

1. One English national daily newspaper with wide circulation

2. One Hindi national daily newspaper with wide circulation (regional language of Himachal Pradesh)

3. One regional language daily newspaper (Marathi) at the place of the stock exchange (BSE) where volume of trading was maximum during sixty trading days preceding the PA