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 (Acquirer 1) and Mr. Gaurav Goyal (Acquirer 2) 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, payable in cash. The offer is made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

Key Points

  • Offer to acquire up to 79,11,800 equity shares of face value Rs. 4 each
  • Offer price: Rs. 2 per fully paid equity share (cash payment)
  • Represents 26% of total equity/voting share capital of Grand Foundry Limited
  • Not conditional to any minimum level of acceptance
  • No competing offer exists
  • No statutory approvals required
  • Acquirers may revise offer price up to 3 working days prior to tendering period opening
  • Manager to the Offer: D & A Financial Services (P) Limited (SEBI Regn No.: INM000011484)
  • Registrar to the Offer: Beetal Financial & Computer Services Private Limited (SEBI Regn. No.: INR000000262)

Regulatory Changes

No regulatory changes introduced. This is a corporate action pursuant to existing SEBI (SAST) Regulations, 2011.

Compliance Requirements

  • Public shareholders of Grand Foundry Limited may tender their shares during the offer period
  • Shareholders who have sold their shares should hand over the Letter of Offer and Form of Acceptance to the stock exchange member through whom sale was effected
  • Documents available on SEBI website: www.sebi.gov.in
  • Shareholders requiring clarification should consult stockbroker, investment consultant, Manager to the Offer, or Registrar to the Offer

Important Dates

ActivityOriginal DateRevised Date
Date of Public AnnouncementThursday, 26th June, 2025Thursday, 26th June, 2025
Date of Publication of Detailed Public StatementThursday, 3rd July, 2025Thursday, 3rd July, 2025
Filing of Draft Letter of Offer to SEBIThursday, 10th July, 2025Thursday, 10th July, 2025
Last Date for Competitive Offer(s)Thursday, 24th July, 2025Thursday, 24th July, 2025
Identified DateMonday, 4th August, 2025Thursday, 16th October, 2025
Last Date for Offer Price RevisionWednesday, 29th October, 2025Wednesday, 29th October, 2025
Offer OpensMonday, 3rd November, 2025Monday, 3rd November, 2025
Offer ClosesMonday, 17th November, 2025Monday, 17th November, 2025

Impact Assessment

For Grand Foundry Limited:

  • Potential change in shareholding pattern with acquirers seeking to increase stake to 26%
  • May lead to change in management control or significant influence
  • Shareholders have opportunity to exit at offered price of Rs. 2 per share

For Public Shareholders:

  • Exit opportunity during 15-day tendering period (3rd - 17th November, 2025)
  • Price certainty at Rs. 2 per share regardless of market fluctuations
  • No minimum acceptance condition provides certainty of acquisition if shares tendered

Market Impact:

  • High impact corporate action under SEBI takeover regulations
  • Share price likely to be influenced by offer price during tendering period
  • Liquidity may be affected as shareholders decide whether to tender shares

Acquirer Details:

  • Mr. Rakesh Kumar Bansal: House No. 39, Road No. 41, Punjabi Bagh, New Delhi - 110026 (Contact: 9811024212)
  • Mr. Gaurav Goyal: C-15, Preet Vihar, New Delhi - 110092 (Contact: 9810031440)

Target Company Details:

  • 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

Impact Justification

Major corporate action involving 26% stake acquisition in Grand Foundry Limited through open offer under SEBI takeover regulations