Description
Open offer by Mr. Rajendra Kamalakant Chodankar to acquire up to 7,93,000 equity shares (26% stake) of The Indian Link Chain Manufacturers Limited at ₹71 per share from public shareholders.
Summary
Mr. Rajendra Kamalakant Chodankar (Acquirer) has initiated an open offer to acquire up to 7,93,000 fully paid-up equity shares of face value ₹10 each, representing 26% of the emerging equity and voting share capital of The Indian Link Chain Manufacturers Limited (CIN: L47211MH1956PLC009882) from public shareholders. The offer price is ₹71 per equity share, payable in cash, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This offer is triggered by substantial acquisition of equity shares and voting capital accompanied with change in control and management of the target company.
Key Points
- Acquirer: Mr. Rajendra Kamalakant Chodankar (Contact: +91 95944 44435, Email: raj@rrpelectronics.com)
- Target Company: The Indian Link Chain Manufacturers Limited (ILCML)
- Registered Office: Office No. 2, Chandra Niwas Hirachand Desai Road Ghatkopar West, Mumbai 400 086
- Target Company Contact: Tel: 022-22661013, 22665519; Website: www.inlinch.com; Email: inlinch@hotmail.com
- Offer Size: Up to 7,93,000 equity shares (26% of emerging equity and voting share capital)
- Share Face Value: ₹10 per equity share
- Offer Price: ₹71 per equity share (cash payment)
- No differential pricing in this offer
- Offer made pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations
- Involves substantial acquisition with change in control and management
- No statutory approvals required as on date of Letter of Offer
- Offer subject to any statutory approvals that may become necessary later
Regulatory Changes
Not applicable - this is a takeover offer document, not a regulatory change circular.
Compliance Requirements
- Public shareholders of ILCML may tender their shares during the tendering period
- Shareholders who recently sold shares should hand over Letter of Offer and acceptance-cum-acknowledgement form to the stock exchange member through whom sale was effected
- If upward revision in Offer Price/Size occurs up to 1 working day prior to commencement of tendering period (Monday, October 20, 2025), public announcement will be made in same newspapers as original Detailed Public Statement
- If offer withdrawn per Regulation 23 of SEBI (SAST) Regulations, announcement to be made within 2 working days in same newspapers
- Acquirer must make necessary applications for any statutory approvals that become required
- Where statutory approval extends to some but not all public shareholders, Acquirer has option to make payment to shareholders requiring no approvals
Important Dates
- Tendering Period Commencement: Monday, October 20, 2025
- Last date for upward revision of Offer Price/Size: 1 working day prior to October 20, 2025
- Withdrawal announcement timeframe (if applicable): Within 2 working days via newspaper announcement
Impact Assessment
Market Impact: High - This open offer represents a significant change in control and management of The Indian Link Chain Manufacturers Limited. The acquisition of 26% stake triggers mandatory open offer obligations under SEBI SAST Regulations, indicating substantial ownership consolidation.
Shareholder Impact: Public shareholders have opportunity to exit at offer price of ₹71 per share. The offer provides liquidity event for minority shareholders during the control change.
Operational Impact: Change in control and management may lead to strategic shifts in company operations, governance structure, and business direction.
Regulatory Compliance: The offer is structured in compliance with SEBI (SAST) Regulations for substantial acquisition scenarios, ensuring fair treatment of public shareholders during takeover process.
Impact Justification
High importance and impact due to substantial acquisition involving 26% stake and change in control/management of listed company, requiring mandatory open offer under SEBI SAST Regulations