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 has initiated an open offer to acquire up to 7,93,000 fully paid-up equity shares representing 26% of the emerging equity and voting share capital of The Indian Link Chain Manufacturers Limited (ILCML) from public shareholders. The offer price is ₹71 per equity share, payable in cash. This offer is made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following substantial acquisition 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 (CIN: L47211MH1956PLC009882)
  • Offer Size: Up to 7,93,000 equity shares (26% of emerging equity and voting capital)
  • Face Value: ₹10 per equity share
  • Offer Price: ₹71 per equity share (cash payment)
  • No differential pricing in this offer
  • Tendering Period commences: Monday, October 20, 2025
  • Offer made under SEBI (SAST) Regulations 2011 for substantial acquisition with change in control

Regulatory Changes

This is a mandatory open offer triggered under Regulations 3(1) and 4 of SEBI (SAST) Regulations 2011 due to:

  • Substantial acquisition of equity shares and voting share capital
  • Change in control and management of the target company

No statutory approvals are required as on the date of the Letter of Offer, but the offer remains subject to any approvals that may subsequently become necessary.

Compliance Requirements

  • Public shareholders of ILCML should review the Letter of Offer and accompanying form of acceptance-cum-acknowledgement and Transfer Deed
  • Shareholders who have sold their shares should hand over documents to the stock exchange member through whom the sale was effected
  • Acquirer may revise offer price and/or offer size up to 1 working day prior to commencement of tendering period
  • Any revisions will be communicated via public announcement in same newspapers where Detailed Public Statement appeared
  • If offer is withdrawn per Regulation 23 of SEBI (SAST) Regulations, announcement will be made within 2 working days

Important Dates

  • Tendering Period Commencement: Monday, October 20, 2025
  • Last date for price/size revision: 1 working day prior to October 20, 2025
  • Withdrawal announcement (if applicable): Within 2 working days in same newspapers

Impact Assessment

High Impact on Target Company:

  • Change in control and management of The Indian Link Chain Manufacturers Limited
  • Acquirer seeking to acquire 26% stake from public shareholders
  • May result in significant ownership restructuring

Impact on Public Shareholders:

  • Exit opportunity at ₹71 per share for up to 26% of company’s equity
  • Shareholders must decide whether to tender shares during the offer period
  • Those requiring clarification should consult stockbrokers, investment consultants, or the Manager/Registrar to the Offer

Market Impact:

  • Potential delisting implications depending on post-offer shareholding pattern
  • Subject to statutory approvals if required at later date
  • Acquirer retains option to make payment to shareholders not requiring statutory approvals

Impact Justification

Mandatory open offer involving change in control and management of listed company, affecting 26% of equity capital with significant implications for public shareholders