SBEC Sugar Ltd — Updates, 01-01-1970: Company Update

SBEC Systems (India) Limited and its group entities have announced a mandatory open offer to acquire up to 1.24 crore shares (26% stake) of SBEC Sugar Limited at ₹21 per share, totaling ₹26.02 Cr. This follows a Supreme Court order directing the acquirers to make this offer due to a prior breach where promoter group shareholding increased from 54.46% to 63.86% in FY 2014-15 without an open offer. The additional ₹10.93 per share includes 10% interest per annum for the delay in the offer. The acquirers do not intend to delist SBEC Sugar, and payment will be made in cash.