Sanmitra Commercial Ltd — Important, 01-01-1970: Company Update

Acquirers Ankit Jalan and Anuj Jalan, with Persons Acting in Concert, have announced an open offer to acquire up to 1.4976 Cr equity shares, representing 26% of Sanmitra Commercial Limited's expanded capital, at Rs 15 per share. This follows a preferential allotment and share purchase, which will result in the acquirers and PACs jointly holding 69.73% and gaining management control. The offer price of Rs 15 is supported by a fair value assessment. Sanmitra currently has no revenue, operating in commercial services and trading. The acquirers plan to continue and potentially diversify the business.