Mr. Ashish Begwani Acquires 72.58% Stake in Kkalpana Plastick Ltd, Triggering Mandatory Open Offer
Kkalpana Plastick Ltd has undergone a significant change in control following the execution of a Share Purchase Agreement (SPA). The transaction involves the acquisition of equity by Mr. Ashish Begwani from the existing Promoters, Bbigplas Poly Private Limited and Mrs. Sarla Surana.The deal, formalized on July 07, 2026, stipulates that Mr. Ashish Begwani has acquired 40,12,335 fully paid-up equity shares of Rs. 10/- each from the Sellers. This acquisition represents a substantial stake, accounting for 72.58% of the paid-up equity share capital and voting rights of Kkalpana Plastick Ltd.
The purchase constitutes a change in control over the company. Upon consummation of the transaction and the subsequent open offer process, Mr. Ashish Begwani will become the sole promoter of the Company. The Sellers, Bbigplas Poly Private Limited and Mrs. Sarla Surana, will cease to be part of the promoter group and will relinquish their control and management in favour of the Acquirer.
As per the terms of the acquisition, the transaction triggers a mandatory open offer to the public shareholders under applicable regulations. Mr. Ashish Begwani has committed to this obligation. The open offer involves the proposed acquisition of 14,37,420 fully paid equity shares of Rs. 10/- each, representing 26% of the company’s paid-up and voting share capital. The offer price for these public shareholders is set at Rs. 28/- per equity share, payable in Cash.
The details of the Share Purchase Agreement (SPA) are summarized below:
| Particulars | Details |
|---|---|
| Name of Acquirer | Mr. Ashish Begwani |
| Shares Proposed to be Acquired | 40,12,335 fully paid equity shares of Rs. 10/- each |
| Percentage of Share Capital Acquired | 72.58% |
| Name of Seller Promoters | Mrs. Sarla Surana and Bbigplas Poly Private Limited |
| Nature of Transaction | Share Purchase Agreement |
| Open Offer Triggered | Yes |
| Proposed Change in Control | Yes |
The transaction is subject to the satisfaction of all conditions precedent, including receiving applicable statutory approvals. The Company stated that it will make further disclosures as required when material developments occur concerning this matter.
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