Description
India Resurgence Fund schemes announce takeover offer for Shree Digvijay Cement Company Limited via NSE's web-based bidding platform from January 5-16, 2026.
Summary
India Resurgence Fund - Scheme 1, India Resurgence Fund 2 - Scheme 2, and India Resurgence Fund 2 - Scheme 4 (collectively the Acquirers) have approached NSE to use the web-based bidding platform for a takeover offer of Shree Digvijay Cement Company Limited. The offer will be conducted through NSE’s Tender Offer Scheme facility with live bidding from January 5-16, 2026. The offer is for up to 3,85,43,837 equity shares at a fixed price of Rs. 92.20 per share.
Key Points
- Offer period: January 5, 2026 to January 16, 2026
- Bidding time: 9:15 AM to 3:30 PM daily
- Custodial confirmation on issue closure day: 9:15 AM to 4:00 PM
- Offer price: Rs. 92.20 per equity share (face value Rs. 10)
- Issue size: Up to 3,85,43,837 equity shares
- Lot size: 1 equity share
- ISIN: INE232A01011
- Security symbol: SHREDIGCEM, Series: TO
- Offer type: Fixed price takeover
- Merchant Banker: Axis Capital Limited
- Registrar: MUFG Intime India Private Limited
- Bidding platform: https://eipo.nseindia.com
- Order modification and cancellation NOT permitted for takeover offers
Regulatory Changes
The takeover offer will be conducted in accordance with the Tender Offer Scheme Exchange circular NSE/CMTR/52776 dated June 29, 2022. All trading members of the Capital Market segment are eligible to participate in the Tender Offer Facility.
Compliance Requirements
For Trading Members:
- Trading members already using the web-based IPO bidding platform can use their existing user IDs for login
- Members without system access must log into the admin terminal and create branches and users to participate
- Admin terminal user ID format: Adminxxxxx (where xxxxx is the Member Code)
- Members must follow the Tender Offer Scheme procedures as outlined in circular NSE/CMTR/52776
Investor Categories Eligible:
- Foreign Institutional Investors (FII)
- Mutual Funds (MF)
- Insurance Company (IC)
- Banks & Financial Institutions (FI)
- Other QIBs (OTH)
- Bodies Corporate (CO)
- Individuals (IND)
- Other - Non Institutional Investors (NOH)
Important Dates
- Circular Date: December 31, 2025
- Issue Period: January 5, 2026 to January 16, 2026
- Daily Bidding Hours: 9:15 AM to 3:30 PM
- Custodial Confirmation (Issue Closure Day): 9:15 AM to 4:00 PM
Impact Assessment
Market Impact: High - This is a significant takeover offer involving three India Resurgence Fund schemes attempting to acquire a substantial stake in Shree Digvijay Cement Company Limited. The offer size of up to 3.85 crore shares represents a major ownership change.
Trading Impact: The security will trade under the “TO” (Tender Offer) series during the offer period. Order modification and cancellation restrictions apply, limiting investor flexibility during the tender process.
Operational Impact: All Capital Market segment trading members must ensure their systems and user access are configured for participation. Members without existing IPO platform access need to set up admin terminals and create user accounts before the offer period begins.
Investor Impact: Shareholders of Shree Digvijay Cement Company Limited can tender their shares at Rs. 92.20 per share through their trading members during the specified period. The fixed price nature and no-modification rule require careful consideration before bidding.
Impact Justification
Major takeover offer for up to 3.85 crore equity shares at Rs. 92.20 per share, requiring mandatory participation through NSE's tender offer facility with specific investor category restrictions.