Description

Open offer to acquire up to 7,93,000 equity shares (26% of emerging equity) of The Indian Link Chain Manufacturers Limited at ₹71 per share, pursuant to SEBI SAST Regulations for substantial acquisition with change in control and management.

Summary

Mr. Rajendra Kamalakant Chodankar (Acquirer) has launched an open offer for the acquisition of up to 7,93,000 fully paid-up equity shares of The Indian Link Chain Manufacturers Limited (ILCML), representing 26% of the emerging equity and voting share capital. The offer is made at ₹71 per equity share, payable in cash, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This offer is triggered under Regulations 3(1) and 4 of SEBI SAST Regulations due to substantial acquisition accompanied by change in control and management of the Target Company.

Key Points

  • Acquirer: Mr. Rajendra Kamalakant Chodankar, Flat No. I-702, Golden Square C.H.S., off CST Road, Kalina, Santacruz East, Mumbai – 400098
  • Target Company: The Indian Link Chain Manufacturers Limited (CIN: L47211MH1956PLC009882)
  • Offer Size: Up to 7,93,000 equity shares (26% of emerging equity share capital)
  • Face Value: ₹10 per equity share
  • Offer Price: ₹71 per equity share (no differential pricing)
  • Payment Method: Cash
  • Tendering Period Commencement: Monday, October 20, 2025
  • Regulatory Framework: SEBI (SAST) Regulations, 2011
  • Trigger: Substantial acquisition with change in control and management (Regulations 3(1) and 4)
  • Contact: Email: raj@rrpelectronics.com, Phone: +91 95944 44435

Regulatory Changes

This offer is made in compliance with SEBI (SAST) Regulations, 2011, specifically Regulations 3(1) and 4, which mandate an open offer in cases of substantial acquisition of shares accompanied by change in control and management. The offer follows the mandatory disclosure and public announcement requirements under the takeover regulations.

Compliance Requirements

  • Public Shareholders: Must review the Letter of Offer and decide whether to tender their shares during the tendering period
  • Acquirer: Must comply with all provisions of SEBI SAST Regulations including public announcements, offer document filing, and payment obligations
  • Statutory Approvals: As of the Letter of Offer date, no statutory approvals are required to acquire equity shares tendered in this offer. However, the offer is subject to any statutory approvals that may be required or become necessary later
  • Upward Revision: Any upward revision in offer price or offer size must be announced up to 1 working day prior to commencement of tendering period (i.e., before Monday, October 20, 2025)
  • Withdrawal: If the offer is withdrawn pursuant to Regulation 23 of SEBI SAST Regulations, announcement must be made within 2 working days in the same newspapers where the Detailed Public Statement appeared

Important Dates

  • Letter of Offer Date: October 20, 2025
  • Tendering Period Commencement: Monday, October 20, 2025
  • Last Date for Price/Size Revision: 1 working day prior to Monday, October 20, 2025
  • Tendering Period Closure: To be specified in detailed offer documents

Impact Assessment

Impact on Public Shareholders: This is a significant corporate event providing an exit opportunity to public shareholders at ₹71 per share. Shareholders must evaluate the offer price against market price and company fundamentals to make an informed decision.

Impact on Company: The acquisition will result in change of control and management of The Indian Link Chain Manufacturers Limited. The Acquirer will hold substantial stake post-acquisition, fundamentally altering the company’s ownership structure.

Market Impact: High - This is a mandatory open offer triggered by substantial acquisition with change in control, representing a significant corporate action. The offer targets 26% of the company’s equity, which will impact trading dynamics and may influence stock price movement during the offer period.

Regulatory Significance: The offer demonstrates compliance with SEBI’s takeover regulations designed to protect minority shareholder interests during change of control situations. The transparent pricing mechanism (no differential pricing) ensures fair treatment of all public shareholders.

Impact Justification

Significant corporate action involving change in control and management of The Indian Link Chain Manufacturers Limited with mandatory open offer for 26% equity acquisition from public shareholders