Acquirers complete Open Offer for Shantai Industries Ltd; Public share holding remains at 25.60%
The open offer launched by a group of acquirers in Shantai Industries Limited concluded on June 9, 2026. The transaction aimed to acquire up to 19,20,000 fully paid-up Equity Shares from public shareholders for cash at a fixed price of ₹21 per share.The offer was conducted by Radhe Dhokla Private Limited, Pandav Dishant Kanubhai, Nikunj Vijaybhai Prajapati, Pandav Jinesh Kanaiyalal, and Pandav Pradipkumar Vijaybhai, collectively referred to as the Acquirers. Saffron Capital Advisors Private Limited managed the open offer for the acquiring entities.
According to records available following the closing of the offer, zero shares were tendered or accepted by the public during the specified period. The payment date for the consideration was set for June 17, 2026.
Open Offer Transaction Details
The acquisition structure involved Acquirers obtaining shares representing 25.60% of the voting share capital of Shantai Industries Limited (SIL). Below is a summary of the offer terms and outcomes:| Particulars | Detail |
|---|---|
| Target Company | Shantai Industries Limited |
| Acquirers | Radhe Dhokla Private Limited, Pandav Dishant Kanubhai, Nikunj Vijaybhai Prajapati, Pandav Jinesh Kanaiyalal, and Pandav Pradipkumar Vijaybhai |
| Offer Price (per equity share) | ₹21 |
| Maximum Offer Size | 19,20,000 Equity Shares |
| Aggregate Value of Offer | ₹4,03,20,000/- |
| Open Offer Period | May 26, 2026 to June 09, 2026 |
Shareholding and Acquisition Status
The tables provided in the Post Offer Advertisement detail both the proposed acquisition targets and the actual post-offer status.Prior to the open offer, public shareholders held 19,20,000 shares, representing 25.60% of the voting share capital. The Acquirers aimed to acquire this stake.
After the concluded open offer, the table reflects the following:
| Particulars | Pre Offer Holding (Number) | Post Offer Holding (Number) |
|---|---|---|
| Public Shareholders | 19,20,000 | 19,20,000 |
| Acquirers | NIL | 55,80,000 |
The Acquirers, along with the shares acquired, now hold a total of 75,00,000 shares, constituting 100% of the voting share capital. The details indicate that the Acquirers already held 55,80,000 shares before the open offer concluded.
The Post Offer Advertisement was published in various newspapers including Financial Express (English), Jansatta (Hindi), Janadesh (Gujarati), and Mumbai Lakshadeep (Marathi). The transaction manager for the open offer is Saffron Capital Advisors Private Limited.
Stock Price Movement
Shantai Industries Ltd settled at ₹96.06 on Monday, ticking down 1.00% as trade closed. The shares traded completely flat for the day, with the intraday high and low both recorded at ₹96.06.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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