Magnanimous Trade & finance Ltd — Updates, 01-01-1970: Company Update

Mr. Kurjibhai Premjibhai Rupareliya has announced a board meeting regarding an open offer to acquire up to 2,47,382 shares, representing 26% of Magnanimous Trade & Finance Limited's voting capital from public shareholders. The offer price is ₹339,100 per share, including accrued interest for the delay period, with a maximum cash consideration of approximately ₹967.26 Cr assuming full acceptance. This follows a Share Purchase Agreement to acquire 6,79,350 shares (71.40% voting capital) at ₹385 per share from promoters. The open offer aims to consolidate control, impacting the company’s ownership and potentially its strategic direction.