Acquirers Launch Open Offer for India Cements Capital Ltd Shares; Target is Offered at ₹12 per Share
A consortium of acquirers has initiated an Open Offer for the equity shares of India Cements Capital Limited (ICCL). The offer aims to acquire up to 56,43,612 fully paid-up equity shares, representing 26.00% of the voting share capital in ICCL.The consortium includes Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar, along with Mrs. Neha Agarwal, who is acting as a Person Acting in Concert (PAC). The Open Offer has been set at an offer price of ₹12 per share, payable entirely in cash. Based on this offering, the aggregate consideration for the public shareholders would be ₹6,77,23,344/- should all shares be accepted.
The mandatory open offer follows a significant transaction between the acquirers and the company's existing promoter. The underlying transaction involves the acquisition of 1,08,58,186 equity shares from M/s Sri Saradha Logistics Private Limited, the Promoter Seller. This acquisition represents 50.02% of the Voting Share Capital of ICCL and was executed at a negotiated price of ₹12 per share, aggregating to ₹13,02,98,232/-.
The completed transaction results in the acquirers holding a combined stake of 68.45% in the Target Company, with each acquirer's proposed holding detailed below:
| Acquirer | Proposed Shares (Number) | Proposed Shareholding (%) |
|---|---|---|
| Mr. Sandeep Jain | 20,67,174 | 9.52% |
| Mr. Vikas Garg | 43,95,506 | 20.25% |
| Mr. Rahul Nagar | 43,95,506 | 20.25% |
| Mrs. Neha Agarwal (PAC) | 40,00,000 | 18.43% |
| Total | 1,48,58,186 | 68.45% |
The transaction was executed via a Share Purchase Agreement dated July 24, 2026, between the Acquirers and M/s Sri Saradha Logistics Private Limited.
Transaction Details Summary
A detailed look at the shares acquired during the underlying transaction is provided in the table below:| Detail | Value |
|---|---|
| Shares Acquired from Promoter Seller | 1,08,58,186 Equity Shares |
| Percentage of Voting Capital Acquired | 50.02% |
| Total Consideration for Acquisition | ₹13,02,98,232/- |
Details of the Target Company
The target company is India Cements Capital Limited (ICCL), which holds its equity shares on BSE Limited. ICCL has a total voting share capital structure that determined the offering size of 56,43,612 shares for the Open Offer.Stock Price Movement
As of 10:14, shares of India Cements Capital Ltd are edging higher, trading at ₹19.53 and showing a solid gain of 1.98%. This performance comes as the stock remains completely flat, with its intraday high and low locked at ₹19.53.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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