Description

Letter of Offer for open offer to acquire up to 26% equity stake in Classic Filaments Limited at Rs. 12 per share by four acquirers pursuant to SEBI SAST Regulations.

Summary

Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal (collectively the “Acquirers”) have issued a Letter of Offer for an open offer to acquire up to 15,89,471 fully paid-up equity shares of Classic Filaments Limited, representing 26% of the total paid-up equity and voting share capital at an offer price of Rs. 12 per equity share. This open offer is made pursuant to Regulations 3(1) & 4 of SEBI (SAST) Regulations, 2011 for substantial acquisition of shares/voting rights accompanied with change in control and management of the Target Company.

Key Points

  • Acquirers: Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal
  • Target Company: Classic Filaments Limited (CIN: L17114GJ1990PLC013667)
  • Offer Size: Up to 15,89,471 equity shares (26% of total paid-up equity capital)
  • Face Value: Rs. 10 per share
  • Offer Price: Rs. 12 per equity share payable in cash
  • Registered Office: Plot No. 1, Priyanka House, Umiyadham Road, Varachha, Surat- 395006
  • Contact: Tel: 0261-2540570, Email: classicfilaments@ymail.com
  • Website: www.classicfilamentsltd.com
  • No competitive bid exists
  • No regulatory or statutory approvals pending as on date of Letter of Offer

Regulatory Changes

This open offer triggers compliance requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to substantial acquisition of shares/voting rights accompanied with change in control and management.

Compliance Requirements

  • Public shareholders of Classic Filaments Limited can tender their shares during the offer period
  • Shareholders who accept the offer by tendering requisite documents as per Public Announcement/Detailed Public Statement/Letter of Offer terms
  • Any upward revision in Offer Price/Offer Size prior to commencement of last working day before tendering period will be informed within 2 working days through Public Announcement in same newspapers
  • Revised offer price would be payable for all shares validly tendered and accepted
  • If statutory approvals become applicable prior to offer completion, the offer would be subject to such approvals

Important Dates

  • Detailed Public Statement Date: October 31, 2025
  • Letter of Offer Date: February 6, 2026
  • Tendering period details to be announced separately
  • Shareholders should consult their Stock Broker or Investment Consultant for clarification on action to be taken

Impact Assessment

High Impact: This open offer represents a significant corporate action resulting in change of control and management of Classic Filaments Limited. The acquisition of 26% equity stake by the four acquirers will substantially alter the shareholding pattern and potentially the strategic direction of the company. Public shareholders have an opportunity to exit at Rs. 12 per share. Shareholders who recently sold shares should forward the Letter of Offer documents to relevant stock exchange members. The offer is made under mandatory takeover regulations, indicating a material change in company ownership structure.

Impact Justification

Major corporate action involving change in control and management of Classic Filaments Limited through open offer for 26% equity acquisition