Synthiko Foils Ltd — Updates, 01-01-1970: Company Update

Synthiko Foils Limited is subject to a mandatory open offer by Acquirers Mr. Abhishek Narbaria and Mr. Umesh Kumar Sahay for up to 4,52,400 equity shares (26% of paid-up capital) at Rs. 134.12 per share, aggregating to Rs. 6.07 Cr. This follows a Share Purchase Agreement to acquire 9,09,703 shares (52.28%) from the existing promoters at Rs. 123 per share. The Acquirers will gain control and become promoters post-transaction. The company manufactures aluminum packaging foils and has no outstanding convertible instruments or locked-in shares. Financials show modest profit growth with a net worth around Rs. 602 lakh as of March 2024. The offer will be conducted via the stock exchange mechanism on BSE, with all necessary funds escrowed. Tax implications vary by shareholder status, and shareholders must comply with relevant documentation and approvals to participate.