Jai Mata Glass Ltd — Important, 01-01-1970: Company Update

Three acquirers launched an open offer to acquire up to 2.60 Cr equity shares, representing 26.00% of Jai Mata Glass Limited, at INR 1.85 per share, totaling INR 4.81 Cr. This follows their agreement to purchase 4.46 Cr shares (44.57%) from the current promoters for INR 8.24 Cr. The acquirers aim to gain majority control (70.57%) to revive and expand the company's glass trading business. Jai Mata Glass has seen declining income and losses in recent years, with net worth falling from INR 3.09 Cr to INR 1.94 Cr over the last three fiscal years. An independent directors' committee will provide their opinion on the offer.