Acquirer Duo Launches Open Offer for Arco Leasing Ltd Shares
Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal have jointly announced an open offer targeting public shareholders of Arco Leasing Ltd, seeking to acquire a significant stake in the company's equity capital. The acquisition is set at a fixed price per share.The two acquirers are offering to purchase 27,74,970 equity shares representing 25.57% of the Expanded Voting share Capital of Arco Leasing Limited. These shares have a face value of ₹10.00/-.
Under the terms of the open offer, the acquiring shareholders have set the offer price at ₹10.00/- per Offer Share. This transaction represents an aggregate maximum consideration of ₹2,77,49,700.00/-, assuming full acceptance of all shares offered. The payment for the shares is stipulated to be made in cash.
The details of the open offer and its components are summarized below:
| Metric | Details |
|---|---|
| Company | Arco Leasing Ltd |
| Acquirers | Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal |
| Shares Targeted | 27,74,970 equity shares |
| Stake Percentage | 25.57% of Expanded Voting share Capital |
| Offer Price | ₹10.00 per Offer Share |
| Maximum Consideration | ₹2,77,49,700.00 |
The offering is part of the process following various public announcements and disclosures regarding the acquisition opportunity by the acquirers. The open offer materials have been published in English, Hindi, and Marathi dailies to inform the public.
Stock Price Movement
Arco Leasing Ltd settled at ₹3.75 on Monday, registering zero change for the shares as markets closed. The stock remained completely locked during trading, with its intraday high and low both sitting at ₹3.75.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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