Acquirers Announce Open Offer for Jai Mata Glass Ltd Shares Following Significant Acquisition Agreement
A consortium of acquirers, comprising Mr. Ashwani Gulati, Ms. Kiran Gulati, and M/s Veerasha Trust, has initiated an Open Offer for the equity shares of Jai Mata Glass Limited (JMGL). This move follows the execution of a Share Purchase Agreement (SPA) with existing shareholders in the target company.The Open Offer is designed to acquire up to 2,60,00,000 Equity Shares, representing 26.00% of the Paid-up Equity Share Capital of Jai Mata Glass Limited. The acquisition opportunity for public shareholders is set at a price of INR 1.85/- per Equity Share. If fully accepted, the total consideration under this Open Offer would amount to INR 4,81,00,000 /.
The acquisition mandate was triggered by the execution of the SPA on July 13, 2026. Under this agreement, the Acquirers agreed to purchase a substantial stake in JMGL from existing sellers.
Transaction Details and Sellers
The underlying transaction involves the acquisition of 4,45,65,460 Equity Shares, equating to 44.57% of the Paid-up Equity Share Capital of Jai Mata Glass Limited. The entire purchase was transacted for a total consideration of INR 8,24,46,101/-.The selling shareholders in this transaction included:
- Ms. Anu Marwah, holding 2,49,22,960 shares (24.92% of the Paid-up Equity Share Capital).
- M/s J P Overseas Private Limited, which held 1,95,68,900 shares (19.57%).
- Mr. Inesh Marwah, holding 73,600 shares (0.07%).
Acquisition and Offer Summary
The following table summarizes the key financial details pertaining to the transaction:| Metric | Open Offer Details | Underlying Transaction Details |
|---|---|---|
| Offer Size | Up to 2,60,00,000 Equity Shares (26.00% of Paid-up Share Capital) | 4,45,65,460 Equity Shares (44.57% of Paid-up Share Capital) |
| Offer Price | INR 1.85/- per Equity Share | INR 1.85/- per Equity Share |
| Maximum Consideration | INR 4,81,00,000 /- (assuming full acceptance) | INR 8,24,46,101/- |
Acquirers' Proposed Holding
The acquiring entities—Mr. Ashwani Gulati, Ms. Kiran Gulati, and M/s Veerasha Trust—currently hold no shares in the company. Following the acquisition of this tranche of shares, their proposed collective holding is set at 4,45,65,460 Equity Shares (44.57% of the Paid-up Equity Share Capital).The status of all shareholders and the specifics of the transaction are detailed below:
| Details | Acquirers' Proposed Holdings | Selling Shareholders Details |
|---|---|---|
| Total Shares Acquired/Proposed | 4,45,65,460 Equity Shares (14.86% to 14.85%) | 4,45,65,460 Equity Shares (44.57%) |
The transaction was conducted under a Share Purchase Agreement entered on July 13, 2026.
Stock Price Movement
At the close of trade today, shares of Jai Mata Glass Ltd settled at ₹1.61, marking a decline of 4.73%. The stock saw significant intraday movement, trading between a high of ₹1.69 and a low of ₹1.55.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.