Ashish Begwani’s Acquisition Poses 72% Stake in Kkalpana Plastick Ltd, Triggering Open Offer
A large institutional move has put Kkalpana Plastick Limited (KPL) under a significant acquisition bid. Mr. Ashish Begwani has entered into an agreement to acquire substantial equity from the existing promoter group, necessitating a mandatory Open Offer to the public shareholders of the company.The transaction was formalized through a Share Purchase Agreement dated July 07, 2026. Under this agreement, Mr. Ashish Begwani is set to acquire 40,12,335 equity shares from the Selling Shareholders, Mrs. Sarla Surana and Bigplas Poly Private Limited. This acquisition represents 72.58% of KPL’s total paid up equity and voting share capital.
The Open Offer targets public shareholders, offering them a chance to sell their shares in KPL. The offer is for up to 14,37,420 equity shares, constituting 26.00% of the total paid up equity and voting share capital of KPL. The acquisition has been designated as a Triggered Offer under the relevant regulations.
The terms of the Open Offer are as follows:
- Offer Price: Rs. 28 per Equity Share.
- Payment Mode: Cash.
- Potential Consideration: Assuming full acceptance, the total consideration payable by the Acquirer is Rs. 4,02,47,760/-.
The underlying transaction involves the acquisition of 40,12,335 Equity Shares for a negotiated price of Rs. 28 per share, which will be settled in cash. This purchase places Mr. Ashish Begwani's aggregate shareholding at 72.58% of the Target Company's paid up capital.
Transaction and Shareholder Details
The following table details the components of the underlying transaction and the shareholders involved:| Category | Detail |
|---|---|
| Target Company | Kkalpana Plastick Limited (KPL) |
| Acquirer Name | Mr. Ashish Begwani |
| Offer Size | Up to 14,37,420 shares (representing 26.00%) |
| Consideration Offered | Rs. 28 per Equity Share |
Selling Shareholders Involved in the Transaction
The transaction involves the transfer of a significant portion of the company's equity from the promoter group. The total paid up equity and voting share capital of KPL stands at Rs. 5,52,85,350/-, divided into 55,28,535 fully paid up equity shares of face value of Rs. 10/- each.The details regarding the selling shareholders are as follows:
| Selling Shareholder | Pre-Transaction Shares Held (Number) | Pre-Transaction Stake (%) | Post-Transaction Shares Held (Number) |
|---|---|---|---|
| Mrs. Sarla Surana | 1,000 | 0.02% | Nil |
| Bigplas Poly Private Limited | 40,11,335 | 72.56% | Nil |
| TOTAL | 40,12,335 | 72.58% | Nil |
The Acquirer, Mr. Ashish Begwani, had a pre-transaction shareholding of NIL (0.00%) in KPL and is projected to hold 40,12,335 shares, representing 72.58% of the total paid up equity after the acquisition.
Stock Price Movement
At the close of trade today, Kkalpana Plastick Ltd settled at ₹24.96, having declined by 4.99%. The shares traded within a session range spanning from a low of ₹24.96 to a high of ₹26.27.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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