Banganga Paper Industries Ltd — Important, 01-01-1970: Company Update

Acquirers Ronak Jain, Sarita Jain, Priyanka Jain, and K K Impex and Trading Private Limited, along with PACs, have launched an open offer to acquire up to 3.48 crore equity shares, representing 100% of the existing public shareholding of Banganga Paper Industries Limited (BPIL), at an offer price of Rs. 1.45 per share. This move follows a preferential allotment and a share purchase agreement aimed at securing management control. The acquirers plan to grow BPIL's business, potentially diversifying operations, and make CMJ Breweries Private Limited a wholly-owned subsidiary. The total consideration for the open offer is Rs. 5.04 crore. The Committee of Independent Directors will evaluate the offer for shareholders.