Description
Open offer by Ms. Shweta Kalra and Ms. Rachna Kalra to acquire up to 3,90,000 equity shares (26% voting capital) of SNS Properties and Leasing Limited at ₹10 per share.
Summary
Ms. Shweta Kalra and Ms. Rachna Kalra have launched an open offer to acquire up to 3,90,000 equity shares (26% of voting capital) of SNS Properties and Leasing Limited at ₹10 per share. This offer is made pursuant to SEBI (SAST) Regulations following substantial acquisition requirements.
Key Points
- Offer price: ₹10 per fully paid equity share of ₹10 face value
- Target shares: Up to 3,90,000 equity shares representing 26% voting capital
- Total issued shares: 15,00,000 (14,76,700 fully paid + 23,300 partly paid)
- Partly paid shareholders must pay call money of ₹2.50 plus 10% interest from November 30, 1985
- Offer not conditional on minimum acceptance level
- No competing offers as of offer date
Regulatory Changes
Offer made under regulation 3(1) and regulation 4 of SEBI (SAST) Regulations, 2011. Compliance with substantial acquisition disclosure requirements triggered the mandatory open offer.
Compliance Requirements
- Shareholders holding partly paid shares must pay outstanding call money with interest to participate
- No statutory approvals currently required but subject to any that may become applicable
- Offer price revisions possible up to one working day before tendering period commencement
Important Dates
- Offer price revision deadline: Friday, August 22, 2025 (one working day before tendering period)
- Original allotment date for interest calculation: November 30, 1985
Impact Assessment
Moderate impact limited to SNS Properties shareholders. The 26% acquisition threshold triggers mandatory open offer requirements. Shareholders of this small company will have exit opportunity at ₹10 per share. Limited broader market implications given company size and sector focus.
Impact Justification
Open offer for 26% stake in SNS Properties - significant for company shareholders but limited broader market impact