Midland Polymers Ltd — Important, 01-01-1970: Company Update

Acquirers Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla are making an Open Offer for Midland Polymers Limited. They aim to acquire 9.75 crore shares, representing 26.00% of the expanded equity, at Rs. 10 per share, totaling Rs. 9.75 Cr. This offer is triggered by the company's Board approving a significant preferential allotment of shares and convertible warrants to these acquirers and other investors. This transaction will result in the acquirers holding 69.15% of the company's expanded equity and becoming the new promoters.