Navigant Corporate Advisors Limited, acting as the Manager to the Offer, issued a Post Offer Advertisement on behalf of five acquirers for Midland Polymers Limited (MPL). This advertisement is issued in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The open offer was made by Gayathri Boreddy (Acquirer-1), Jagannath Edla (Acquirer-2), Radha Krishna Avudari (Acquirer-3), Mahammad Amaan Shaik (Acquirer-4), and Ravi Kiran Veeramalla (Acquirer-5) to acquire up to 97,50,000 equity shares of ₹10 each, representing 26.00% of the expanded equity and voting share capital of MPL at a price of ₹10 per share.

Key Offer Details and Outcome:

  • Offer Opening Date: Wednesday, 03 June, 2026
  • Offer Closing Date: Tuesday, 16 June, 2026
  • Date of Payment of Consideration: 22 June, 2026 (Actual)
  • Offer Price: ₹10 per Equity Share (as proposed and actual)
  • Shares Tendered: 1,765 shares (Actual) vs. 97,50,000 shares proposed
  • Shares Accepted: 1,765 shares (Actual) vs. 97,50,000 shares proposed
  • Size of Offer: ₹17,650 (Actual) vs. ₹9,75,00,000 proposed

Acquisition and Shareholding Details:

  • Acquirers' Pre-Offer Holding: Nil (0.00%)
  • Shares to be Acquired via Preferential Allotment: 2,59,31,240 shares (69.15% of fully diluted capital). This allotment was approved by the Board of Directors on 27 March 2026 and by members on 25 April 2026. However, as of the date of this report, no allotment has been made as in-principle approval from BSE Limited is still pending. These shares were not tendered or accepted in the open offer.
  • Shares Acquired via Open Offer: 1,765 shares (0.005% of fully diluted capital)
  • Post-Offer Shareholding of Acquirers: 2,59,33,005 shares (69.15% of fully diluted capital)

Public Shareholding Impact:

The pre-offer public shareholding was 6,30,910 shares (94.34% of pre-preferential capital of 6,68,760 shares).

The post-offer public shareholding is 1,15,66,995 shares (30.85% of the expanded capital).

The expanded equity and voting share capital is defined as 3,75,00,000 fully paid-up equity shares of ₹10 each, which includes the proposed preferential allotment of 2,38,31,240 equity shares and 1,10,00,000 warrants convertible into equity shares.

Publication and Compliance:

The Detailed Public Statement (DPS) was published on 07 April, 2026. This Post Offer Advertisement was published on 23 June, 2026, in Financial Express (English, all editions), Jansatta (Hindi, all editions), Pratahkal (Marathi, Mumbai edition), and Mega Jyothi (Telugu, Telangana edition).

The acquirers accept full responsibility for the information and fulfillment of obligations under SEBI SAST Regulations, 2011. A copy of this advertisement will be available on the SEBI website.

Manager to the Offer:

Navigant Corporate Advisors Limited

SEBI Registration No: INM000012243

Contact Person: Mr. Sarthak Vijlani, Managing Director