Acquirers Announce Open Offer for Noble Polymers Ltd., Targeting 26% Stake at ₹5 Per Share

Acquirers Announce Open Offer for Noble Polymers Ltd., Targeting 26% Stake at ₹5 Per Share​

Kunvarji Finstock Private Limited, acting as the Manager to the Offer, has announced an Open Offer by Mr. Mahesh Alabhai Odedra and Mr. Hiren Rambhai Odedra (collectively referred to as "Acquirers") for Noble Polymers Ltd. The offer targets up to 22,76,406 Equity Shares of the company, representing 26.00% of its Emerging Voting Share Capital.

The Open Offer is being conducted at an Offer Price of ₹5 per Equity Share, payable in cash, and no revision has been made to the price. This announcement provides a corrigendum to the Detailed Public Statement (DPS) and the Letter of Offer (LoF), which was initially issued on July 3, 2026.

Key Dates and Offer Procedure​

The Open Offer timeline is as follows:

Corporate Identification Number Rectification​

The Corrigendum has been issued to rectify the Target Company's Corporate Identification Number (CIN). Due to a change in the Object Clause of the company’s Memorandum of Association, the Target Company’s CIN must be read as L66120GJ1994PLC022429. This replaces the previously mentioned CIN of L17119GJ1994PLC022429 on relevant documents including the cover page and SH-4 form.

The Acquirers confirmed that they accept full responsibility for the information contained in this advertisement and for all obligations under SEBI (SAST) Regulations, 2011.

Offer Details and Investor Insights​

The Committee of Independent Directors (IDC) of Noble Polymers Ltd released its recommendation on July 8, 2026. The IDC opined that the Offer Price is fair and reasonable and aligns with SEBI (SAST) Regulations, 2011. Furthermore, the Open Offer is confirmed not to be a competing offer under Regulation 20 of the SEBI (SAST) Regulations, 2011.

The Target Company currently has no outstanding convertible instruments scheduled for future conversion into Equity Shares, apart from 2,34,75,735 convertible warrants proposed for issuance on a preferential basis to the Acquirers and certain non-promoter allottees. The company also confirmed it has not carried out any merger, de-merger, or spin-off in the past three years.

Public shareholders are instructed to note that eligible individuals can participate in the Offer whether their shares are registered or unregistered. For those holding physical shares, instructions include approaching a seller broker and submitting the complete set of documents as mentioned in the LoF on page 39. Those with dematerialized shares may tender through their respective selling broker.

Management to the Offer Details​

The Open Offer is managed by Kunvarji Finstock Private Limited, registered under INM000012564. The Acquirers for this offer are Mr. Mahesh Alabhai Odedra (Acquirer-1) and Mr. Hiren Rambhai Odedra (Acquirer-2).

Stock Price Movement​

As of 10:14, Noble Polymers Ltd is ticking up at ₹5.66, having climbed 1.98%. The shares are trading completely flat today, with the high and low both locked at that price point.