Key Quantitative Figures
- Offer Price: ₹10 per fully paid-up equity share
- Number of shares offered for acquisition: 97,50,000 equity shares
- Percentage of expanded equity and voting share capital: 26.00%
- Face value of shares: ₹10 each
Dates of Action
- Pre-Offer Advertisement publication date: June 2, 2026
- Detailed Public Statement publication date: April 7, 2026
- Draft Letter of Offer submission to SEBI: April 15, 2026
- SEBI final observations received: May 15, 2026 (Letter No. HO/49/12/11(47)2026-CFD-RAC-DCR2/I/11712/2026)
- Letter of Offer dispatch completion: May 26, 2026
- Independent Directors Committee recommendation published: June 1, 2026
Parties Involved
Acquirers: Gayathri Boreddy (Acquirer-1), Jagannath Edla (Acquirer-2), Radha Krishna Avudari (Acquirer-3), Mahammad Amaan Shaik (Acquirer-4), Ravi Kiran Veeramalla (Acquirer-5)
Target Company: Midland Polymers Limited (BSE Code: 531597, CIN: L62013TS1992PLC178971)
Manager to Offer: Navigant Corporate Advisors Limited (SEBI Registration No: INM000012243)
Contact Person: Mr. Sarthak Vijlani, Managing Director
Newspapers where advertisements were published: Financial Express (English, all editions), Jansatta (Hindi, all editions), Pratahkal (Marathi, Mumbai edition), Mega Jyothi (Telugu, Telangana edition)
Committee Recommendations
The Committee of Independent Directors of Midland Polymers Limited opined that the Offer Price of ₹10 per share is in accordance with relevant regulations and prima facie appears to be justified.
Material Changes
No material changes from the date of Public Announcement.
Revised Schedule of Activities
| Activity | Revised Date | Revised Day |
| Public Announcement | 27.03.2026 | Friday |
| Publication of Detailed Public Statement | 07.04.2026 | Tuesday |
| Submission to BSE, Target Company & SEBI | 07.04.2026 | Tuesday |
| Last date for filing draft letter of offer | 15.04.2026 | Wednesday |
| Last date for competitive bid | 29.04.2026 | Wednesday |
| Receipt of SEBI comments | 15.05.2026 | Friday |
| Identified date* | 19.05.2026 | Tuesday |
| Dispatch of letter of offer to shareholders | 26.05.2026 | Tuesday |
| Last date for revising Offer Price | 01.06.2026 | Monday |
| Comments from Independent Directors Committee | 01.06.2026 | Monday |
| Advertisement of schedule | 02.06.2026 | Tuesday |
| Opening of Offer | 03.06.2026 | Wednesday |
| Closure of Offer | 16.06.2026 | Tuesday |
| Post Offer Advertisement | 23.06.2026 | Tuesday |
| Payment of consideration | 01.07.2026 | Wednesday |
| Final report from Merchant Banker | 08.07.2026 | Wednesday |
*Identified Date is for determining shareholders eligible to participate in the Offer
Eligibility
All owners (registered or unregistered) of equity shares of Midland Polymers Limited (except the Acquirers, Promoter, Selling Company) are eligible to participate in the Offer any time before closure.
Application Process
Eligible persons may participate by approaching their respective Broker/Selling Broker and tender Shares in the Open Offer as per the procedure. The Letter of Offer is available on SEBI website (www.sebi.gov.in) and Manager's website (www.navigantcorp.com).
Competitive Bids
There has been no competitive bid to this Offer.