Acquirers Mandate Open Offer for ACI Infocom, Targeting 26% Stake at ₹1.53 Per Share
ACI Infocom Limited (ACI-INFO) has been the subject of a mandatory Open Offer by a group of Acquirers, Mr. Sanjay Natvarlal Mandavia and Ms. Rupal Sanjay Mandavia, to acquire a substantial stake in the company. The offer, managed by Credora Partners Private Limited, is set to acquire up to 3,70,47,634 Equity Shares, representing 26.00% of the Emerging Voting Share Capital.The Acquirers have proposed the acquisition through an Open Offer at a price of ₹1.53/- (Rupees One And Fifty Three Paise Only) per equity share. The maximum consideration for the Open Offer is calculated at ₹5,66,82,881/-.
Details of the Underlying Transaction
The Open Offer is triggered by the Acquirers' proposed preferential allotment of equity shares and convertible warrants, which is set to result in a substantial stake and a change in control of the Target Company.The preferential allotment, approved by the Board of Directors of ACI Infocom Limited on August 10, 2026, includes:
| Proposed Allottee | Equity Shares | Warrants | Aggregate Consideration (₹) |
|---|---|---|---|
| Acquirer-1 (Mr. Sanjay Natvarlal Mandavia) | 3,19,00,000 | Nil | 4,88,07,000 |
| Acquirer-2 (Ms. Rupal Sanjay Mandavia) | 1,00,000 | 10,00,00,000 | 15,31,53,000 |
| Other Proposed Allottees | - | 19,48,00,000 | 29,80,44,000 |
| Total | 3,20,00,000 | 29,48,00,000 | 50,00,04,000 |
The Acquirers have a combined pre-transaction holding of 36,89,004 Equity Shares (3.34% of the pre-issue paid-up share capital). Following the acquisition of the preferential shares, the Acquirers are projected to hold 3,56,89,004 Equity Shares, representing 25.05% of the Emerging Voting Share Capital.
Open Offer Parameters and Financial Arrangements
The Offer Price of ₹1.53/- was determined by the Acquirers and the Manager to the Offer as the highest of several parameters, following regulatory guidelines. The acquisition of shares is expected to bring the Acquirers' total stake to 7,27,36,638 Equity Shares, representing 51.05% of the post-issue emerging voting share capital.The Offer is open to all Public Shareholders of ACI Infocom Limited. The Offer is not conditional on any minimum level of acceptance.
The timeline for the Open Offer is as follows:
| Milestone | Date |
|---|---|
| Offer Opens | October 05, 2026 |
| Offer Closes | October 16, 2026 |
| Payment Completion | November 02, 2026 |
Acquirers' Profile and Company Overview
The Acquirers, Mr. Sanjay Natvarlal Mandavia and Ms. Rupal Sanjay Mandavia, are noted to be inter-related. Mr. Sanjay Natvarlal Mandavia is a Whole-Time Director of the Target Company, having been appointed on February 21, 2026.ACI Infocom Limited was incorporated in 1982 and is engaged in manufacturing, assembling, and designing computer peripherals, micro-processor-based equipment, and information technology products. The company is planning to diversify its business activities upon completion of the Offer, which may include aviation, aerospace, defence, and infrastructure activities, following a proposed alteration of the Memorandum of Association.
Company Financial Snapshot
The financial performance of ACI Infocom Limited, as reported in the Draft Letter of Offer, is summarized below (figures in ₹ Lakhs):| Financial Metric | FY ended March 31, 2026 | FY ended March 31, 2025 | FY ended March 31, 2024 |
|---|---|---|---|
| Total Income | 54.38 | 138.77 | 93.34 |
| Total Expenditure | 239.79 | 185.08 | 75.11 |
| Profit After Tax | (185.41) | (53.16) | 8.86 |
| Net Worth | 1451.41 | 1636.82 | 1689.98 |
| Earning Per Share | (0.17) | (0.05) | 0.01 |
Shareholding Structure
The following table outlines the shareholding status of the Target Company as of the date of the Draft Letter of Offer:| Shareholders' Category | Prior to Transaction (A) | Shares Acquired by Acquirers (B) | Post-Acquisition Shareholding (D) |
|---|---|---|---|
| Acquirers | 36,89,004 (3.34%) | 3,70,47,634 (26.00%) | 7,27,36,638 (51.05%) |
| Public Shareholders | 10,68,01,896 (96.66%) | (3,70,47,634) (26.00%) | 6,97,54,262 (48.95%) |
| GRAND TOTAL | 11,04,90,900 | 3,70,47,634 | 14,24,90,900 |
Stock Price Movement
As of 11:21, ACI Infocom shares are ticking down slightly at ₹2.45, reflecting a 0.41% decline. The stock has demonstrated significant movement today, having ranged from an intraday low of ₹2.34 to a high of ₹2.58.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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