Open Offer Details: Jitesh Kothari and Atul Jaiswal Announce Acquisition of 25.57% Stake in Arco Leasing Ltd
Mr. Jitesh Kothari (Acquirer 1) and Mr. Atul Ramshankar Jaiswal (Acquirer 2) have announced an Open Offer for the acquisition of Equity Shares in Arco Leasing Limited (the Target Company). The offer aims to acquire up to 27,74,970 shares, representing 25.57% of the Expanded Voting Share Capital of the company, at a fixed offer price of ₹10.00 per share, payable in cash.The Open Offer allows public shareholders to tender their Equity Shares during the Tendering Period. Assuming full acceptance, the total maximum consideration for these shares is set at ₹2,77,49,700.00.
Key Details of the Public Share Acquisition
The offer details were published following a Detailed Public Statement (DPS) and are scheduled to commence on July 03, 2026, and close on July 16, 2026. The acquisition is non-conditional upon a minimum level of acceptance and is not a competing offer.| Detail | Details |
|---|---|
| Target Company | Arco Leasing Ltd |
| Acquirers | Mr. Jitesh Kothari (Acquirer 1) & Mr. Atul Ramshankar Jaiswal (Acquirer 2) |
| Offer Shares Acquired | Up to 27,74,970 Equity Shares |
| Percentage of Expanded Voting Share Capital | 25.57% |
| Offer Price | ₹10.00 per Offer Share (payable in cash) |
| Maximum Consideration | ₹2,77,49,700.00 |
| Tendering Period Start Date | July 03, 2026 |
| Tendering Period End Date | July 16, 2026 |
Broader Transaction Scope and Shareholders’ Holdings
The overall acquisition structure involves multiple components, including a negotiated purchase of Sale Shares from existing Promoter Shareholders and the allotment of subscription shares to the Acquirers. The transaction is set to result in the Acquirers holding up to 100% of the Expanded Voting Share Capital upon completion.The proposed shareholding details reflect the combined acquisition:
| Transaction Component | No. of Equity Shares | Percentage of Expanded Voting Share Capital |
|---|---|---|
| Acquisition through Share Purchase Agreement (from Promoter Shareholders) | 1,28,600 | 1.18% |
| Proposed allotment via Share Subscription Agreement to Acquirers | 79,50,000 | 73.25% |
| Shares acquired through Open Offer from Public Shareholders | 27,74,970 | 25.57% |
| Total Post-Acquisition Holding | 1,08,53,570 | 100.00% |
The acquisition of Sale Shares from the Promoter Shareholders is set at a Negotiated Price of ₹6.00 per Share, amounting to an aggregate consideration of ₹7,71,600 for 1,28,600 shares.
Acquirers’ Investment and Commitment
Both Acquirer 1 and Acquirer 2 have committed significant equity in the company via a Share Subscription Agreement dated March 13, 2026. The allocated holdings are as follows:| Acquirer | Proposed Equity Shares (Subscription) | Percentage of Expanded Voting Share Capital | Consideration (Aggregate) |
|---|---|---|---|
| Mr. Jitesh Kothari (Acquirer 1) | 39,75,320 | 36.63% | ₹3,97,53,200/- |
| Mr. Atul Ramshankar Jaiswal (Acquirer 2) | 39,74,680 | 36.62% | ₹3,97,46,800/- |
The Acquirers have stated that they possess adequate financial resources to fulfill all obligations under the Offer, backed by certified net worth documentation from a chartered accountant.
Procedural and Operational Details
The Tendering Period details are as follows:| Activity | Date |
|---|---|
| Identified Date for the Offer | June 18, 2026 |
| Commencement of Tendering Period (Open Offer) | July 03, 2026 |
| Closing of Tendering Period | July 16, 2026 |
The payment of consideration to all accepted Public Shareholders is scheduled within 10 Working Days from the closure of the Tendering Period.
Financial Health and Corporate Status
Arco Leasing Ltd., established in February 1984, continues to operate with its subsidiary Ansu Trade & Fiscals Private Limited, a Non-Deposit Taking Non-Banking Financial Company registered with RBI. The Target Company has shown diverse financial results across the last three fiscal years, reporting varying levels of profitability.The company's authorized equity share capital is reported at 1,15,00,000 shares post-preferential issue, reflecting a fully paid-up capital of ₹10,85,35,700.00, which constitutes the Expanded Voting Share Capital.
Stock Price Movement
Arco Leasing Ltd settled on Monday at ₹3.75, registering zero change in value. The shares remained completely flat throughout the trading session, holding steady within a range marked by that same price point.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.