Opening of Offer to Buy – Acquisition Window (Takeover) of Grand Foundry Limited

Description

Open offer by Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal to acquire up to 26% equity shares of Grand Foundry Limited at Rs. 2 per share.

Summary

Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal have launched an open offer to acquire up to 79,11,800 equity shares representing 26% of the total equity/voting share capital of Grand Foundry Limited at Rs. 2 per fully paid equity share in cash. The offer is made pursuant to SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 and is not conditional to any minimum level of acceptance. The offer opens on November 3, 2025 and closes on November 17, 2025.

Key Points

• Acquirer 1: Mr. Rakesh Kumar Bansal (House No. 39, Road No. 41, Punjabi Bagh, New Delhi - 110026)
• Acquirer 2: Mr. Gaurav Goyal (C-15, Preet Vihar, New Delhi - 110092)
• Target shares: Up to 79,11,800 equity shares (26% of total equity capital)
• Offer price: Rs. 2 per equity share (Face value Rs. 4 per share)
• Payment mode: Cash
• No statutory approvals required
• Not conditional to minimum acceptance level
• No competing offer exists
• Offer price can be revised up to 3 working days before tendering period opens (October 29, 2025)

Regulatory Changes

This is a regulatory-compliant open offer made under:

• Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
• Public Announcement issued on June 26, 2025
• Detailed Public Statement published on July 3, 2025
• Draft Letter of Offer filed with SEBI on July 10, 2025

Compliance Requirements

For Public Shareholders:

• Review the Letter of Offer and Form of Acceptance cum Acknowledgement
• Consult stockbroker, investment consultant, Manager to the Offer, or Registrar if clarification needed
• If shares recently sold, hand over Letter of Offer and forms to the Member of Stock Exchange through whom sale was effected
• Submit acceptance forms during the tendering period (November 3-17, 2025)

Manager to the Offer:

D & A Financial Services (P) Limited

• Address: 13, Community Centre, East of Kailash, New Delhi - 110065
• Contact: Ms. Radhika Pushkarna
• Email: investrors@dnafinserv.com
• SEBI Regn No.: INM000011484

Registrar to the Offer:

Beetal Financial & Computer Services Private Limited

• Address: Beetal House, 3rd Floor, 99, Madangir, Behind Local Shopping Centre, Near Dada Harsukhdas Mandir, New Delhi - 110062
• Contact: Mr. Punit Mittal
• Email: beetal@beetalfinancial.com
• SEBI Regn. No.: INR000000262

Important Dates

Impact Assessment

Impact on Shareholders:

• High Impact: Public shareholders of Grand Foundry Limited have opportunity to tender up to 26% of company’s equity shares
• Offer price of Rs. 2 per share (50% of face value of Rs. 4) requires shareholder evaluation against current market price
• No minimum acceptance threshold provides certainty that tendered shares will be accepted (subject to overall 26% limit)

Market Impact:

• Change of control transaction that may affect trading dynamics of Grand Foundry Limited shares
• Shareholders must make informed decision during 15-day tendering period
• Documents available on SEBI website (www.sebi.gov.in) for transparency

Corporate Governance:

• Compliance with SEBI SAST Regulations ensures transparent acquisition process
• Registered intermediaries appointed as Manager and Registrar provide investor protection
• No competing offer simplifies decision-making for shareholders

Target Company Details:

Grand Foundry Limited

• Registered Office: Office No. 302, Cabin No. 1, Sanjay Appa Chambers, Plot No. 82, Behind Charat Singh Colony, Andheri East, Chakala MIDC, Mumbai, Maharashtra - 400093
• Contact: cs@gfsteel.co.in, Tel: 9711989548

Impact Justification

Major corporate action involving takeover of 26% equity stake in Grand Foundry Limited. Direct impact on public shareholders with specific tender offer price and deadlines.