Aftertrade Broking Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Mahan Industries Ltd ("Target Company").
M&A
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MEDIUM RISK
📅 Filed on BSE: 27 Jul 2026, 06:19 PM IST · BSE ID: 51edb1b1-38e1-4d2f-a649-7973178b782b
View Original BSE Filing (PDF)
💡
In Simple Terms
Acquirers are making a public offer to buy 26% of Mahan Industries' shares at Rs. 12 per share.
🤖 AI Summary
- Draft Letter of Offer submitted for Mahan Industries' public shareholders regarding an open offer.
- Acquirers Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain plan to acquire 20,02,000 equity shares.
- This acquisition represents 26% of Mahan Industries' total expanded voting equity share capital.
- The offer price is Rs. 12 per equity share for the fully paid shares.
- The open offer will commence on September 08, 2026, and close on September 22, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Equity Shares to be acquired
20,02,000 equity shares
Percentage of Expanded Voting Equity Capital
26%
Offer Price per Equity Share
Rs. 12/-
🏢 How This Affects the Company
The open offer introduces a change in control and management for Mahan Industries as stated under SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011.
👥 What This Means For Shareholders
✅
Action Required
Public shareholders of Mahan Industries Limited who wish to tender their shares must do so between September 08, 2026, and September 22, 2026.
👤
Who Is Affected
Public shareholders of Mahan Industries Limited are affected, as the Acquirers are offering to acquire up to 20,02,000 fully paid Equity Shares at Rs. 12/- per share.
🔍
Management Signal
The offer to acquire 26% of the company's equity shares indicates a clear intent by the Acquirers to gain substantial control and management of Mahan Industries.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Open offer commencement: September 08, 2026.
Open offer closure: September 22, 2026.
Regulatory approvals: RBI and BSE Ltd approvals for the underlying transaction.
MEDIUM RISK
The open offer involves a change in control and is subject to regulatory approvals.
💡 Investor Takeaway
The Draft Letter of Offer details the open offer by Mr. Nishil Sanjaykumar Shah and Mr. Niranjan Navratanmal Jain to acquire 20,02,000 equity shares of Mahan Industries, representing 26% of capital, at Rs. 12 per share, from September 08, 2026, to September 22, 2026.
⚖️ Strengths & Concerns
✅ Positives
- The open offer is not conditional upon any minimum level of acceptance, as per Regulation 19(1) of SEBI (SAST) Regulations, 2011.
- Acquirers reserve the right to revise the Offer Price and/or Offer Size upwards before the last working day of the tendering period.
⚠️ Concerns
- No specific financial or operational data from Mahan Industries is provided in this filing for analysis.
- The completion of the open offer is subject to prior approval from the Reserve Bank of India and in-principle approval from BSE Ltd.
📅 Company Track Record
A previous filing on July 16, 2026, indicated the initiation of an open offer for 26% of Mahan Industries equity at Rs. 12 per share, with Aftertrade Broking Private Limited as Manager to the Offer.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
How many equity shares are the Acquirers looking to acquire in Mahan Industries?
The Acquirers intend to acquire up to 20,02,000 equity shares, representing 26% of the total Expanded voting equity shares Capital of Mahan Industries.
What is the offer price per equity share for Mahan Industries in this open offer?
The offer price is Rs. 12/- (Rupees Twelve Only) per equity share for Mahan Industries in this open offer.
When does the open offer for Mahan Industries' shares commence and close?
The open offer for Mahan Industries' shares will open on Tuesday, September 08, 2026, and close on Tuesday, September 22, 2026.
Questions based on this BSE filing only. For information purposes.