Description

M/s. Farmico International Private Limited has made an open offer to acquire up to 7,75,310 equity shares (25.36%) of Simandhar Impex Limited at Rs. 30/- per share, open from April 20 to May 4, 2026, pursuant to SEBI (SAST) Regulations 3(1) & 4.

Summary

BSE has notified trading members and custodians of an open offer by M/s. Farmico International Private Limited (Acquirer) to acquire up to 7,75,310 fully paid-up equity shares of Simandhar Impex Limited (SIL) at Rs. 30/- per share, representing 25.36% of the target company’s fully paid-up equity and voting share capital. The offer is triggered under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and involves a change in control and management of the target company.

Key Points

  • Acquirer: M/s. Farmico International Private Limited
  • Target Company: Simandhar Impex Limited (SIL)
  • Offer Price: Rs. 30/- (Rupees Thirty Only) per equity share, payable in cash
  • Shares Offered For: Up to 7,75,310 equity shares of face value Rs. 10/- each
  • Percentage of Capital: 25.36% of fully paid-up equity and voting share capital
  • Offer governed by SEBI (SAST) Regulations 3(1) & 4 for substantial acquisition with change in control
  • Offer window mechanism follows BSE/SEBI revised guidelines for acquisition through stock exchange

Regulatory Changes

No new regulatory changes introduced. The offer is conducted under the existing framework established by:

  • SEBI circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
  • SEBI circular CFD/DCR2/CIR/P/2016/131 dated December 9, 2016
  • BSE notices: 20170210-16, 20190424-35, 20200528-32, 20201102-43, 20210825-62 (Revised Guidelines for acquisition through stock exchange)

Compliance Requirements

  • Trading members and custodians must note and communicate the open offer to eligible public shareholders of Simandhar Impex Limited
  • Market participants must conduct the offer as per the Revised Guidelines of SEBI circular CFD/DCR2/CIR/P/2016/131 and BSE notice 20170210-16 and 20190424-35
  • Details of the Offer to Buy are available on the BSE website (www.bseindia.com)
  • Letter of Offer (LETTER_OF_OFFER) is attached and available for review

Important Dates

  • Notice Date: April 16, 2026
  • Offer Opens: Monday, April 20, 2026
  • Offer Closes: Monday, May 4, 2026
  • Excluded Day: Friday, May 1, 2026 (SEBI Holiday)

Impact Assessment

This open offer has significant impact on public shareholders of Simandhar Impex Limited, who now have the opportunity to tender up to 25.36% of the company’s equity at Rs. 30/- per share to the acquirer. The offer involves a change in control and management, making it a material corporate event. Trading members and custodians are operationally required to facilitate the acquisition window mechanism on the stock exchange. Shareholders should review the Letter of Offer carefully before deciding to participate, as acceptance at Rs. 30/- represents the acquirer’s assessed value. The exclusion of the May 1 SEBI holiday narrows the effective trading window to approximately 10 business days.

Impact Justification

This is a formal open offer for takeover involving change in control and management of a listed company, directly affecting public shareholders who must decide whether to tender shares within the offer window.