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

An open offer has been made for Shah Foods Limited to acquire up to 26% of its emerging equity and voting capital at ₹62.50 per share. This open offer was triggered by the acquisition of 2.93 lakh shares from existing promoters and a preferential allotment of 1.59 Cr equity shares to the acquirers and Persons Acting in Concert (PACs). Following these transactions and the open offer, the acquirers and PACs will hold a substantial majority stake, gaining management control. Shah Foods, currently with no business activity or revenue, plans to make Tandhan Power Technologies Private Limited a wholly-owned subsidiary and either continue or diversify its business operations. The Independent Directors will provide their assessment of the offer.