In a significant move in the Indian stock market, Torextron Ventures Private Limited has announced an open offer to acquire up to 18,09,967 shares, representing 26.00% of the voting share capital of Mardia Samyoung Capillary Tubes Company Limited. This offer comes as part of SEBI (SAST) Regulations, ensuring a transparent and compliant acquisition process. The offer price has been determined at ₹50.00 per share, aggregating to a total consideration of ₹90.49 crore for the acquisition.

The announcement follows the execution of a Share Purchase Agreement on December 17, 2024, where Torextron Ventures agreed to acquire 69.41% of the shares from the existing promoters of Mardia Samyoung. This agreement was made with the following promoter shareholders: Mr. Ravindra M. Mardia, Mr. Gaurm Ravindra Mardia, Mr. Surendra M. Mardia, and several others, totaling ₹2.41 crore for the Sale Shares. The acquisition price per share has been set at ₹50, aligning with the negotiated terms.

The open offer is a direct result of the share purchase agreement and is triggered in compliance with Regulations 3(1) and 4 of the SEBI regulations. The purpose of the offer is to ensure that public shareholders have the opportunity to sell their shares to the acquirer under fair terms, maintaining market transparency and providing a fair exit option.

As per SEBI regulations, the detailed public statement regarding the open offer was published in leading national newspapers on December 24, 2024, including Financial Express (English), Jansatta (Hindi), and Mumbai Lakshadweep (Marathi). This publication is an essential step in keeping the public informed and in line with regulatory requirements. The offer aims to complete the acquisition promptly, with public shareholders having the opportunity to tender their shares in response to the offer.

Torextron Ventures’ move is part of its larger strategy to strengthen its position in the Indian market, particularly in the capillary tube manufacturing sector. With the demand for these tubes growing, this acquisition is expected to provide Torextron with increased market access and better control over production and distribution processes.

Key Terms of the Open Offer:

• The offer price is set at ₹50.00 per share, as per the SEBI guidelines.
• The total consideration for the offer could reach up to ₹90.49 crore.
• The offer is applicable only to the public shareholders of Mardia Samyoung Capillary Tubes.
• The offer period will be clearly communicated in the forthcoming updates from the Manager to the Offer.

This development marks an important milestone for Torextron Ventures, showcasing their growing influence in the Indian stock market. As per the terms, this offer is aligned with Regulation 8 of the SEBI (SAST) regulations, ensuring transparency, fairness, and compliance throughout the process.

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