Shantai Industries Ltd — Important, 01-01-1970: Company Update

Acquirers, including Radhe Dhokla Private Limited and four individuals, have announced an open offer to acquire up to 1.92 Crore Equity Shares, representing 25.60% of Shantai Industries Limited's voting share capital, for ₹ 21 per share. This open offer, valued at ₹ 4.03 Crore, follows an agreement to purchase 74.40% from current promoters at ₹ 11.50 per share, amounting to ₹ 6.42 Crore. The Acquirers aim to gain management control, review business operations, and explore diversification for enhanced efficiency and long-term value creation. Shantai Industries reported revenue of ₹ 8.25 Crore and a loss of ₹ 0.91 Crore for the nine months ended December 31. The current market price of Shantai Industries shares is ₹ 102.01.