Description

Delisting offer for Manphool Exports Limited by Acquirers Karan Mehta and Krish Ajmera through reverse book building process with floor price of Rs. 6 per share.

Summary

Mr. Karan Mehta and Mr. Krish Ajmera (the Acquirers) have initiated a delisting offer for Manphool Exports Limited (CIN: L51900WB1984PLC052338) pursuant to Regulation 5A of SEBI (SAST) Regulations read with SEBI (Delisting of Equity Shares) Regulations, 2021. The offer invites public shareholders to tender their fully paid-up equity shares of Rs. 10/- each through a Reverse Book Building Process. The floor price is set at Rs. 6 per equity share.

Key Points

  • Company: Manphool Exports Limited (MEL)
  • CIN: L51900WB1984PLC052338
  • Registered Office: 29A, Ballygunge Circular Road, Kolkata- 700019
  • Acquirer 1: Mr. Karan Mehta (11, Ballygunge Park Road, Circus Avenue, Kolkata – 700019)
  • Acquirer 2: Mr. Krish Ajmera (29, Ballygunge Park Road, Circus Avenue, Kolkata – 700019)
  • Floor Price: Rs. 6/- per equity share (Face Value: Rs. 10/- each)
  • Offer Type: Delisting through Reverse Book Building Process
  • Manager to Delisting Offer: VC Corporate Advisors Private Limited (SEBI Regn No.: INM000011096)
  • Registrar to Delisting Offer: S.K. Infosolutions Private Limited (SEBI Regn No.: INR00000388)
  • Buyer Member: Nikunj Stock Brokers Limited

Regulatory Changes

The delisting offer is being conducted under:

  • Regulation 5A of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • SEBI (Delisting of Equity Shares) Regulations, 2021, as amended up to September 24, 2024
  • SEBI Circular No. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
  • SEBI Circular No. CFD/DCR2/CIR/P/2016/131 dated December 09, 2016
  • SEBI Circular No. SEBI/HO/CFD/DCR-III/CIR/P/2021/615 dated August 13, 2021

Compliance Requirements

  • Public shareholders who wish to participate must complete and sign the accompanying Bid Form
  • Bids must be submitted in accordance with instructions provided in the Offer Letter
  • The offer will be implemented through the Stock Exchange mechanism as per Earlier Delisting Regulations
  • Purchases and settlements will be made through the appointed Buyer Member (Nikunj Stock Brokers Limited)
  • Shareholders who have recently sold their equity shares should hand over the Offer Letter to the member of the stock exchange through whom the sale was effected

Important Dates

  • Bid Opening Date: Thursday, October 30, 2025
  • Bid Closing Date: Thursday, November 06, 2025

Impact Assessment

This delisting offer will have significant impact on public shareholders of Manphool Exports Limited. If successful, the company’s equity shares will be delisted from the stock exchange, removing liquidity for existing shareholders. The reverse book building process allows shareholders to bid at prices equal to or above the floor price of Rs. 6 per share. Shareholders who do not participate in the delisting offer may face challenges in trading their shares post-delisting if the delisting is successful. The offer provides an exit opportunity for public shareholders during the specified bidding window.

Impact Justification

Complete delisting offer affecting all public shareholders of Manphool Exports Limited with specific bidding window and floor price set at Rs. 6 per share