Description

Open offer by AVB Endeavors Private Limited, Prilika Enterprises Private Limited, and Mr. Aditya Vikram Birla to acquire up to 50% voting share capital of Shashank Traders Limited at ₹30 per share.

Summary

AVB Endeavors Private Limited, Prilika Enterprises Private Limited, and Mr. Aditya Vikram Birla (collectively the “Acquirers”) have launched an open offer to acquire up to 15,46,900 equity shares representing 50% of the voting share capital of Shashank Traders Limited. The offer is being made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer price is ₹30 per equity share (face value ₹10), totaling ₹4,64,07,000 payable in cash to public shareholders.

Key Points

  • Acquirers: AVB Endeavors Private Limited, Prilika Enterprises Private Limited, and Mr. Aditya Vikram Birla
  • Target Company: Shashank Traders Limited (CIN: L52110DL1985PLC021076)
  • Offer Size: Up to 15,46,900 equity shares (50% of voting share capital)
  • Offer Price: ₹30 per equity share of face value ₹10
  • Total Consideration: ₹4,64,07,000 (Rupees Four Crore Sixty-Four Lakh Seven Thousand Only)
  • Payment Mode: Cash
  • Regulatory Framework: SEBI (SAST) Regulations, 2011 - Regulations 3(1) and 4
  • Offer Type: Not conditional (not subject to minimum acceptance level)
  • Competing Offers: None as on date of Letter of Offer

Regulatory Changes

This is a mandatory open offer triggered under SEBI (SAST) Regulations following substantial acquisition of shares/voting rights in Shashank Traders Limited. The acquirers are required to make this public offer to minority shareholders as per regulatory requirements.

Compliance Requirements

  • For Public Shareholders: Letter of Offer sent to all equity shareholders of Shashank Traders Limited
  • Action Required: Shareholders may tender their shares through the Form of Acceptance cum Acknowledgement and Transfer Deed
  • Consultation: Shareholders requiring clarification should consult their Stock Broker, Investment Consultant, or Manager/Registrar to the Offer
  • Recent Sellers: Those who recently sold shares should hand over the Letter of Offer and accompanying forms to the Stock Exchange member through whom the sale was executed
  • Statutory Approvals: No statutory approvals required as on date of Letter of Offer; if any become applicable, offer will be subject to such approvals

Important Dates

  • Letter of Offer Date: February 5, 2026
  • Offer Opening/Closing Dates: To be specified in detailed public announcement
  • Note: If competing offers emerge, all subsisting bids will open and close on the same date

Impact Assessment

Market Impact: High - This is a significant corporate action involving potential change of control in Shashank Traders Limited with acquirers seeking to purchase 50% of voting capital.

Shareholder Impact: Public shareholders have the opportunity to exit at the offer price of ₹30 per share. The offer is mandatory and unconditional, ensuring certainty of acceptance for all validly tendered shares.

Corporate Governance: The open offer ensures fair treatment of minority shareholders in accordance with SEBI takeover regulations, providing an exit opportunity at the disclosed price.

Liquidity: The substantial size of the offer (50% voting capital) may significantly impact the stock’s liquidity and ownership structure post-acquisition.

Impact Justification

Major corporate action involving takeover of 50% voting capital requiring mandatory open offer under SEBI SAST Regulations