Key Dates and Timeline
The open offer had the following timeline:
- Opening Date: Tuesday, August 18, 2026
- Closure Date: Tuesday, September 1, 2026
- Payment Completion and Communication Date: Thursday, September 10, 2026
Advertisement Publication Details
The post-offer advertisement was published in the following newspapers on September 14, 2026:
- Business Standard (English) - All Editions
- Business Standard (Hindi) - All Editions
- Navshakti (Marathi) - Mumbai Edition
- Prabhat Abhinandan (Hindi) - Jodhpur Edition
Offer Mechanics and Terms
The open offer is for acquisition of up to 13,11,362 fully paid-up equity shares of face value ₹10 each, representing 26.00% of the voting share capital of Neelkanth Rock-Minerals Limited.
Offer Price: ₹19.40 per equity share
Offer Size: ₹2,54,40,422.80 (excluding brokerage and other charges, assuming full acceptance)
Shareholding Structure
Pre-Offer Shareholding:
- Acquirer (Mr. Sesha Sai Nikhil Chintalapati): Nil shares (0%)
- Public Shareholders: 19,13,749 shares (37.94%)
Shares Acquired via Share Purchase Agreement:
- 31,29,951 shares (62.06% of voting share capital)
Post-Offer Potential Shareholding (assuming full acceptance):
- Acquirer: 44,41,313 shares (88.06%)
- Public Shareholders: 6,02,387 shares (11.94%)
Parties Involved
- Target Company: Neelkanth Rock-Minerals Limited (CIN: L14219RJ1988PLC062162)
- Acquirer: Mr. Sesha Sai Nikhil Chintalapati
- Manager to the Offer: Mark Corporate Advisors Private Limited (SEBI Registration No.: INM000012128)
- Registrar to the Offer: Purva Sharegistry (India) Private Limited