Description

Open offer by Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain to acquire up to 26% equity shares of Shentracon Chemicals Limited at ₹0.50 per share.

Summary

This is a Letter of Offer for an open offer by Mr. Amit Lalit Jain (Acquirer 1) and Mr. Hanissh Kanakraj Jaain (Acquirer 2) to acquire up to 11,53,917 fully paid up equity shares representing 26% of the fully paid up equity and voting share capital of Shentracon Chemicals Limited. The offer price is ₹0.50 per equity share, payable in cash. This offer is made pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011 for substantial acquisition of equity shares and voting share capital accompanied with change in control and management of the Target Company.

Key Points

  • Offer Size: Up to 11,53,917 equity shares (26% of fully paid up equity and voting share capital)
  • Offer Price: ₹0.50 per equity share (face value ₹10)
  • Payment Mode: Cash
  • Target Company: Shentracon Chemicals Limited (CIN: L24299WB1993PLC059449)
  • Acquirer 1: Mr. Amit Lalit Jain (Contact: +91 9773479605, Email: amit0511kingmidas@gmail.com)
  • Acquirer 2: Mr. Hanissh Kanakraj Jaain (Contact: +91 9867688833, Email: jkhanish1982@gmail.com)
  • No differential pricing in this offer
  • Offer involves change in control and management of the Target Company

Regulatory Changes

This offer is made in compliance with:

  • Regulation 3(1) of SEBI (SAST) Regulations, 2011 (substantial acquisition)
  • Regulation 4 of SEBI (SAST) Regulations, 2011 (change in control)

As per Regulation 18(5) of SEBI (SAST) Regulations, any upward revision in Offer Price and/or Offer Size can be made up to 1 working day prior to commencement of the Tendering Period.

Compliance Requirements

  • Shareholders of Shentracon Chemicals Limited should review the Letter of Offer and accompanying form of acceptance-cum-acknowledgement and Transfer Deed
  • Shareholders who have recently sold their equity shares should hand over this Letter of Offer to the Member of the Stock Exchange through whom the sale was effected
  • As on the date of this Letter of Offer, no statutory approvals are required to acquire equity shares validly tendered
  • If statutory approvals become necessary later, the Acquirers shall make necessary applications and the offer would be subject to such approvals
  • Public announcement regarding any upward revision in Offer Price/Size would be made in the same newspapers where the original Detailed Public Statement appeared

Important Dates

  • Last Date for Upward Revision: Friday, January 09, 2026 (1 working day prior to commencement of Tendering Period)
  • Tendering Period Commencement: Expected around January 10, 2026 (date to be confirmed)

Impact Assessment

High Impact Corporate Action: This open offer represents a significant corporate event involving change in control and management of Shentracon Chemicals Limited. The acquisition of 26% stake by the Acquirers will result in substantial shareholding and control changes. Shareholders need to carefully evaluate the offer price of ₹0.50 per share (significantly below face value of ₹10) and decide whether to tender their shares. The offer provides an exit opportunity for public shareholders during this change in management phase. The absence of required statutory approvals as of now simplifies the transaction, though future approvals may be needed.

Impact Justification

Major corporate action involving change in control and management of the company with 26% stake acquisition through open offer