The Goenka family, consisting of Mr. Mangi Lal Goenka (Acquirer 1), Mr. Sunil Kumar Goenka (Acquirer 2), Mr. Binod Kumar Goenka (Acquirer 3), and Mr. Dilip Kumar Goenka (Acquirer 4), has initiated a mandatory open offer for the acquisition of up to 26.39,273 shares, representing 26.00% of the Expanded Voting Share Capital of Manbro Industries Limited. This offer has been triggered by a Share Subscription Agreement between the Goenka family and Manbro Industries Limited (formerly known as Unimode Overseas Limited) dated August 28, 2024.

Under the terms of the agreement, the Goenka family will be allotted 42,00,000 equity shares, constituting 41.38% of the Expanded Voting Share Capital of the company, for a consideration of Rs. 27,30,00,000. Additionally, 15,50,000 convertible warrants (representing 15.27% of the Expanded Voting Share Capital) will be allocated for Rs. 10.07,50,000. This transaction is subject to the approval of the company’s members and other regulatory approvals.

The mandatory open offer is in compliance with the provisions of Regulations 3(1) and 4 of the SEBI (SAST) Regulations, as it involves the acquisition of shares beyond the threshold limit. The offer price has been set at Rs. 65.00 per share, determined based on the parameters laid down in Regulation 8 of the SEBI (SAST) Regulations. This move is a part of the Underlying Transaction that triggered the mandatory offer.

As per Regulation 12(1) of the SEBI (SAST) Regulations, Swaraj Shares and Securities Private Limited has been appointed as the Manager to the Offer, and they have issued a Pre-Open Offer Advertisement for the open offer in the leading newspapers. The advertisement was published today, i.e., Tuesday, December 17, 2024, in Financial Express, Jansatta, and Mumbai Lakshadweep.

This open offer is aimed at providing the public shareholders of Manbro Industries an opportunity to sell their shares at the offer price of Rs. 65.00 per share. The Goenka family is taking this step in adherence to SEBI’s regulatory framework, ensuring that the transaction is conducted in a transparent and fair manner.

 in this week and coming weeks are, , , , , , , , , , , , , and The Upcoming IPOs Identical Brain StudiosTransrail LightingMamata MachineryDAM Capital  Sanathan TextilesConcord EnviroNewmalayan SteelVentive HospitalitySenores PharmaceuticalsCarraro IndiaSolar91 CleantechUnimech AerospaceRosmerta DigitalIndo FarmAvanse Financial.The Current active IPO is , NACDAC Infrastructure and International GemmologicalHamps Bio

For more details on upcoming IPOs, you can visit our page at Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and stay updated with the latest news on IPO updates on Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi. Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates. Start your Stock Market Journey and Apply in IPO by opening a Free Demat Account in Choice Broking FinX.