Shah Foods Ltd — Important, 01-01-1970: Company Update

Shah Foods Limited is subject to an open offer by Ankit Jalan, Anuj Jalan, and related entities (Acquirers/PACs) to acquire 60,61,900 equity shares, representing 26% of its emerging capital, at Rs. 62.50 per share for a total of Rs. 37.89 Cr. This follows SFL's Board approving a preferential share allotment, including 1.59 Cr shares to the Acquirers/PACs in exchange for Tandhan Power Technologies Private Limited (valued at Rs. 99.28 Cr), and 68.32 lakh shares to public investors. Additionally, the Acquirers are buying 2.93 lakh shares from current promoters for Rs. 1.76 Cr. Post-deal, Acquirers/PACs will hold 69.39% of SFL, becoming the new promoter group.