Adarsh Mercantile Ltd — Updates, 01-01-1970: Company Update

SMT Engineering Limited (formerly Adarsh Mercantile Limited) has announced an open offer by six acquirers to acquire up to 42.95 lakh equity shares at Rs. 42 per share, representing 26% of the existing equity capital. The Committee of Independent Directors finds the offer price fair. The company has changed its name and altered its Memorandum of Association, reflected in a new Corporate Identity Number. The letter of offer is available online, and shareholders can tender their shares through brokers. No competing bids have emerged. This move indicates a significant ownership change likely impacting the company’s control and strategic direction.