Description

Open offer by Mr. Ankit Jalan and Mr. Anuj Jalan along with persons acting in concert to acquire shares of Sanmitra Commercial Limited pursuant to SEBI Takeover Regulations.

Summary

BSE has announced the opening of an acquisition window for the takeover of Sanmitra Commercial Limited. The open offer is being made by Mr. Ankit Jalan and Mr. Anuj Jalan (Acquirers) along with six persons acting in concert (Mrs. Manju Jalan, Mrs. Radhika Jalan, Mrs. Prachi Jalan, Mrs. Ritu Jalan, Ms. Divyanshi Jalan, and Mr. Daivik Jalan) pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Points

  • Open offer made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • Target company: Sanmitra Commercial Limited (registered office in Mumbai)
  • Acquirers: Mr. Ankit Jalan and Mr. Anuj Jalan, both sons of Mr. Ashok Kumar Jalan
  • Six persons acting in concert with the acquirers
  • Letter of Offer sent to all existing shareholders of Sanmitra Commercial Limited
  • Shareholders who recently sold shares should forward documents to relevant stock exchange members

Regulatory Changes

No regulatory framework changes. This is a mandatory open offer under existing SEBI Takeover Regulations requiring acquirers to make public announcement when substantial acquisition triggers are met.

Compliance Requirements

  • Shareholders must review the Letter of Offer and accompanying Form of Acceptance-cum-acknowledgement
  • Shareholders who wish to participate must submit proper documentation
  • Recent sellers must forward offer documents to their stock exchange members
  • Acquirers must comply with all disclosure and procedural requirements under SEBI Takeover Regulations

Important Dates

Offer opening date: January 1, 2026 (specific closing date and settlement schedule to be provided in complete offer document)

Impact Assessment

This open offer represents a significant corporate action for Sanmitra Commercial Limited shareholders. The mandatory nature under SEBI regulations provides exit opportunity to public shareholders at regulated prices. The acquisition by the Jalan family group (acquirers and PACs all being family members) indicates potential change in control or consolidation of ownership. Shareholders should evaluate the offer price against market value and their investment objectives. The offer may result in delisting if acceptance exceeds threshold levels, impacting liquidity for remaining shareholders.

Impact Justification

Mandatory open offer for takeover affecting all shareholders of Sanmitra Commercial Limited under SEBI Takeover Regulations