Shamrock Industrial Company Ltd — Updates, 01-01-1970: Company Update

Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijaykumar Harish, and Rattan Kapoor have announced a board meeting to approve an open offer for Shamrock Industrial Company Limited. They plan to acquire up to 36.3 lakh equity shares at ₹16.40 each, aggregating nearly ₹5.95 Cr, representing 26% of the emerging voting capital. This follows their agreement to acquire about 16.37 lakh shares (30.15% existing capital) from promoter sellers and a preferential issue of 58.75 lakh shares along with 76.02 lakh optionally convertible debentures. Post-transaction, they will hold 53.8% and assume management control. The Target Company, which has been non-operational for 10 years, intends to amend its main objects clause to add technology and digital assets services. The offer is not conditional on minimum acceptance, and shares can be tendered in physical or demat form through stock exchange mechanisms. The Offer Price is justified based on valuation reports and is payable in cash. The Acquirers have adequate resources with the entire consideration deposited in escrow. Shareholders should consult advisors for tax implications and ensure compliance with requisite approvals before tendering shares.