Gulshankumar Chopra Launches Open Offer for Niraj Cement Structurals Ltd in Acquisition
A mandatory open offer has been launched by Gulshankumar Vijaykumar Chopra for Niraj Cement Structurals Limited. The offer aims to acquire up to 155,20,529 equity shares of the Target Company at a fixed price of Rs. 29 per share, representing 26.00% of its fully paid-up equity capital.The open offer was triggered following the execution of Share Purchase Agreements (SPAs) executed by Mr. Chopra for acquiring stakes from two public category shareholders. The total consideration payable by the Acquirer for these shares is Rs. 45,00,95,341.
Details of the Offer and Underlying Transactions
The acquisition involves purchasing a total of 2,44,97,708 equity shares through direct transactions with sellers identified in the SPAs dated June 16, 2026.The primary acquisitions that triggered this open offer include:
- SPA-1: An agreement to purchase 1,28,00,000 equity shares from Bylan-Niraj Infra Projects Private Limited (Seller-1) at a consideration of Rs. 25.50 per Equity Share.
- SPA-2: An agreement to purchase 1,16,97,708 equity shares from Chem Logistics & Infra Private Limited (Seller-2) at a consideration of Rs. 23.50 per Equity Share.
The combined transactions represent 41.04% of the voting share capital of Niraj Cement Structurals Ltd. The details of the underlying transaction are summarized below:
| Details of Underlying Transaction | Shares Acquired | % of Voting Capital | Total Consideration (Rs. In Lacs) | Mode of Payment |
|---|---|---|---|---|
| Acquisition through SPAs dated June 16, 2026 | 2,44,97,708 | 41.04% | 6,012.96 | Cash |
Acquirer Profile and Shareholding Status
The offer is being made by Gulshankumar Vijaykumar Chopra, who is currently one of the Promoters of Niraj Cement Structurals Ltd. Pre-transactionly, the Acquirer held 52,20,946 Equity Shares, representing 8.75% of the fully paid-up equity share capital.Following the acquisition of shares through this open offer (assuming full acceptance), Mr. Chopra’s shareholding is projected to increase substantially.
The details regarding the Acquirer are provided in the table below:
| Details | Information |
|---|---|
| Name of Acquirer | Gulshankumar Vijaykumar Chopra |
| Pre-Transaction Shareholding (Shares/%) | 52,20,946 / 8.75% |
| Proposed Shareholding after the Open Offer (Shares/%) | 2,97,18,654 / 49.78% |
Sellers' Details and Promoter Structure
The sellers in the underlying transactions are categorized as public category shareholders. Both Bylan-Niraj Infra Projects Private Limited (Seller-1) and Chem Logistics & Infra Private Limited (Seller-2) held a significant stake before the sale, which accounts for 41.04% of the total voting share capital.The shares sold by these two entities are detailed as follows:
| Seller Name | Shares Sold (Number) | % of Voting Capital |
|---|---|---|
| Bylan-Niraj Infra Projects Private Limited (Seller-1) | 1,28,00,000 | 21.44% |
| Chem Logistics & Infra Private Limited (Seller-2) | 1,16,97,708 | 19.60% |
In terms of the overall promoter structure, Gulshankumar Vijaykumar Chopra held 52,20,946 shares (8.75%). Other Promoters of Niraj Cement Structurals Ltd held 96,39,878 shares (16.15%). The total Promoter Shareholding before the underlying transaction stood at 24.89%.
As noted in the detailed filings, there is no Person Acting in Concert (PAC) with the Acquirer for the purpose of this Open Offer. Niraj Cement Structurals Ltd’s equity shares are listed on both BSE and NSE.
NIRAJ Stock Price Movement
Shares of Niraj Cement Structurals Limited today slipped by 3.37% to settle at ₹29.53, finishing the trading session down from its previous close. The stock traded a volume of 58,713 shares during the day.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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