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Acquirers Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain are initiating an open offer for Mahan Industries' public shareholders to acquire 20.02 lakh equity shares (26% of expanded capital) at ₹12 per share, totaling ₹2.40 Cr. Simultaneously, the company will issue 32.00 lakh equity shares and 2.17 Cr convertible warrants at ₹12 each, mainly to the Acquirers. An additional 52,169 shares will be purchased from the current promoter for ₹6.26 Lakh. These transactions will result in the Acquirers gaining control and becoming the new promoters, holding 68.24% of the company. They intend to strengthen Mahan's presence in the financial services sector.