Description

Letter of offer by six acquirers to acquire up to 27,78,399 equity shares (25.73%) of Addi Industries Limited at Rs. 75 per share through takeover regulations.

Summary

Six acquirers led by Mr. Rajat Goyal and Mr. Sandeep Mittal have announced an open offer to acquire up to 27,78,399 equity shares (25.73%) of Addi Industries Limited at Rs. 75 per share. This mandatory offer is made pursuant to SEBI (SAST) Regulations following substantial acquisition triggers.

Key Points

  • Target: Up to 27,78,399 equity shares of Rs. 5 face value each
  • Offer Price: Rs. 75.00 per fully paid equity share in cash
  • Percentage: 25.73% of total equity/voting share capital
  • Six acquirers involved including individuals and HUFs
  • Offer not conditional on minimum acceptance level
  • No competing offer exists

Acquirer Details

Primary Acquirers:

  • Mr. Rajat Goyal and Mrs. Neha Agarwal (Rohini, New Delhi)
  • Rajat Goyal HUF through Karta Mr. Rajat Goyal
  • Mr. Sandeep Mittal and Mrs. Ruchi Mittal (Pitampura, New Delhi)
  • Sandeep Mittal & Sons HUF through Karta Mr. Sandeep Mittal

Regulatory Framework

  • Offer made under SEBI (SAST) Regulations 3(1) and 4
  • No statutory approvals required as of PA date
  • Acquirers may revise offer price up to 3 working days before tendering period
  • Letter of Offer available on SEBI website

Important Dates

  • Price revision deadline: Friday, August 22, 2025 (3 working days before tendering period)
  • Any revisions to be announced in same newspapers as original detailed public statement

Service Providers

Manager to Offer: D & A Financial Services (P) Limited (SEBI Reg: INM000011484) Registrar: Beetal Financial & Computer Services Pvt. Limited

Impact Assessment

This open offer represents a significant corporate action affecting over 25% of Addi Industries Limited’s equity base. Public shareholders must decide whether to tender their shares at the offered price of Rs. 75 per share. The acquisition could lead to change in management control and impact the company’s trading dynamics.

Impact Justification

Major corporate takeover affecting 25.73% of company's equity with significant shareholder impact