Acquirers Launch Open Offer for Sanginita Chemicals Limited at Rs 13.55 Per Share

Acquirers Launch Open Offer for Sanginita Chemicals Limited at Rs 13.55 Per Share​

Sanginita Chemicals Limited has initiated an Open Offer, inviting public shareholders to sell their equity shares to B N G Investment LLC and Mr. Anubhav Agarwal. The offer sets the maximum acquisition quantity at up to 15,689,957 fully paid-up Equity Shares, representing 26.00% of the company's Emerging Fully Diluted Voting Equity Share Capital.

The Open Offer is being made by B N G Investment LLC (Acquirer 1) and Mr. Anubhav Agarwal (Acquirer 2). This mandatory offer follows a larger transaction structured under a Share Swap and Share Purchase Agreement (SSSPA) dated March 20, 2026, which involves the acquisition of shares from existing promoters and the preferential allotment of new equity shares to the Acquirers.

Offer Details for Public Shareholders​

The terms of the Open Offer are as follows:


The shares proposed to be acquired are calculated based on the Emerging Fully Diluted Voting Equity Share Capital of 6,03,45,986 Equity Shares, which accounts for all potential increases in outstanding shares following the preferential allotment.

Strategic Intent and Transaction Background​

The acquisition by the Acquirers is part of a comprehensive transaction structure designed to effect a change in control and management of Sanginita Chemicals Limited. The SSSPA contemplated underpins this mandatory Open Offer.

Through the underlying transactions, the Acquirers are set to gain significant holdings:

• Acquirer 1 (B N G Investment LLC) is slated to acquire 45,75,811 Equity Shares from sellers. Concurrently, they will be issued 1,52,87,356 Equity Shares through a share swap arrangement with Agastya Green Energy Limited (AGEL).
• Acquirer 2 (Mr. Anubhav Agarwal) is slated to acquire 20,03,183 Equity Shares from sellers.

The Acquirers confirm that they intend to effect appropriate changes in the management and take control of Sanginita Chemicals Limited after the completion of the Open Offer. The strategic intent of the acquisition is driven by a long-term vision to diversify and strengthen the Target Company's operations, expanding into high-growth sectors such as renewable energy and sustainable infrastructure.

Offering Timeline and Eligibility​

The public shareholders have specific timeframes for participation in this Open Offer.


All equity shareholders of the Target Company, other than the Acquirers and Sellers, are eligible to participate in this Open Offer. The offer is unconditional and not subject to any minimum level of acceptance.

The acquisition of the shares from NRIs and erstwhile OCBs is subject to necessary approval or exemption from the Reserve Bank of India (RBI).

Key Financial Milestones of the Target Company​

Sanginita Chemicals Limited, which has been operating since 2005, holds a substantial business profile in inorganic chemical manufacturing. The company's performance for the past three years is detailed below:


The company's authorized share capital stands at Rs 77,00,00,000/- with the issued and paid-up share capital at Rs 25,90,15,500/- comprising 2,59,01,550 Equity Shares.

SANGINITA Stock Price Movement​

Shares of SANGINITA are rallying up to ₹30.36 as of 11:18 AM, having increased by ₹0.59 or 1.98%. The stock trades within a tight intraday band, bouncing between the low point of ₹29.18 and the current high near ₹30.36.