Description

Jujhar Constructions and Travels Private Limited announces open offer to acquire up to 26% equity shares of CDG Petchem Limited at ₹41 per share.

Summary

Jujhar Constructions and Travels Private Limited (Acquirer) has announced an open offer to acquire up to 26,00,000 equity shares representing 26% of the expanded paid-up equity share capital of CDG Petchem Limited at ₹41 per fully paid-up equity share of face value ₹10 each. The offer is made pursuant to Regulation 3(1) and Regulation 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The tendering period commences on Friday, October 10, 2025.

Key Points

  • Acquirer: Jujhar Constructions and Travels Private Limited, located at Near Bridge Jawaddipakhowal Road, Ludhiana, Punjab-141001
  • Target Company: CDG Petchem Limited (Registered office: Plot No. 10 & 11, Hyderabad, Telangana-500003)
  • Offer Size: Up to 26,00,000 equity shares (26% of expanded paid-up equity share capital)
  • Offer Price: ₹41 per equity share of face value ₹10 each, payable in cash
  • Not conditional upon minimum level of acceptance (Regulation 19 of SEBI SAST)
  • Not a competing offer (Regulation 20 of SEBI SAST)
  • Manager to the Offer: Fintellectual Corporate Advisors Private Limited (SEBI Registration No.: INM000012944)
  • Registrar to the Offer: Skyline Financial Services Private Limited (SEBI Registration No.: INR000003241)

Regulatory Changes

This open offer is made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments. No regulatory changes are introduced by this circular.

Compliance Requirements

  • Public shareholders of CDG Petchem Limited can tender their shares during the tendering period
  • Shares held by non-promoters under lock-in are not permitted to be tendered in accordance with Regulation 167(2) of SEBI ICDR Regulations
  • Any upward revision in Offer Price/Offer Size must be communicated up to 1 working day prior to commencement of tendering period (up to Wednesday, October 08, 2025)
  • Revisions must be announced in same newspapers where original Detailed Public Statement appeared
  • Public Announcement, Detailed Public Statement, Draft Letter of Offer and Letter of Offer are available on SEBI’s website (www.sebi.gov.in)

Important Dates

  • Offer Opening Date: Friday, October 10, 2025
  • Last date for upward revision in Offer Price/Offer Size: Wednesday, October 08, 2025 (1 working day prior to tendering period commencement)

Impact Assessment

Shareholder Impact: Existing public shareholders of CDG Petchem Limited have an opportunity to exit at ₹41 per share during the open offer period. This represents a liquidity event for minority shareholders.

Market Impact: The open offer for 26% stake represents a significant acquisition under SEBI SAST regulations. The outcome will depend on acceptance levels from public shareholders during the tendering period.

Operational Impact: The acquisition by Jujhar Constructions and Travels Private Limited may lead to changes in management control and strategic direction of CDG Petchem Limited, depending on total shareholding post-offer.

Regulatory Compliance: As of the Letter of Offer date, no statutory approvals are required. However, if approvals become applicable prior to completion, the offer will be subject to receipt of such approvals.

Impact Justification

Major corporate action involving 26% stake acquisition through open offer under SEBI SAST regulations, directly impacting existing shareholders with tendering opportunity