Description

Acquisition window open offer 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 made an open offer to acquire up to 3,90,000 equity shares (26% of voting share capital) of SNS Properties and Leasing Limited at ₹10 per fully paid-up equity share. The offer is made pursuant to SEBI (SAST) Regulations and is not conditional upon minimum acceptance levels.

Key Points

  • Offer price: ₹10 per fully paid-up 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 equity shares (14,76,700 fully paid-up, 23,300 partly paid-up)
  • Partly paid-up shareholders must pay call money of ₹2.50 plus 10% interest from November 30, 1985
  • Open offer not conditional on minimum acceptance
  • No competing offers as of offer date
  • Manager: Fintellectual Corporate Advisors Private Limited

Regulatory Changes

Offer made under regulation 3(1) and regulation 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. No additional statutory approvals required currently, but offer subject to any approvals that may become applicable.

Compliance Requirements

  • Shareholders holding partly paid-up shares must pay outstanding call money with interest to participate
  • All offer documents available on SEBI website
  • Revisions in offer price/size must be announced in newspapers up to one working day before tendering period

Important Dates

  • Revision deadline: Up to Friday, August 22, 2025 (one working day prior to tendering period commencement)
  • Original allotment date for interest calculation: November 30, 1985

Impact Assessment

Significant corporate action involving potential change in control of SNS Properties and Leasing Limited. The 26% acquisition threshold triggers mandatory open offer under takeover regulations, potentially leading to substantial ownership restructuring and impact on existing shareholders’ position in the company.

Impact Justification

Major acquisition offer affecting 26% of company's voting capital under SEBI takeover regulations