CCIndia Cements Capital511355Open offer announcement

Open offer for up to 56,43,612 shares at ₹12 each, 26% of voting capital

Company received the Letter of Offer dated October 14, 2026 for a mandatory open offer to buy up to 56,43,612 shares (26% of voting capital) at ₹12 per share in cash.

By ScoutQuest · Wed 21 Oct 2026, 6:35 PM IST · 2 min read

Open Offer Size

up to 56,43,612 shares (26% of voting capital)

Offer Price

₹12 per share in cash

Tendering Period

October 28 to November 11, 2026

Background

• The company has received a copy of the Letter of Offer dated October 14, 2026, issued by Fintellectual Corporate Advisors Private Limited as Manager to the Open Offer.
• The offer is a mandatory open offer under Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011, made pursuant to a substantial acquisition of shares and voting rights accompanied by a change in management control.

Who is buying

• The acquirers are Mr. Sandeep Jain, Mr. Vikas Garg and Mr. Rahul Nagar, together with Mrs. Neha Agarwal as a person acting in concert.
• They have agreed to acquire 1,08,58,186 equity shares, representing 50.02% of the voting share capital, from the promoter seller M/s Sri Saradha Logistics Private Limited at a negotiated price of ₹12 per share, aggregating ~₹13.03 crore under a Share Purchase Agreement dated July 24, 2026.
• On completion, the acquirers and the person acting in concert are to become the promoter and promoter group, and the existing promoter and promoter group will cease to be so.

Offer terms

• Up to 56,43,612 fully paid-up equity shares of face value of ₹10 each, representing 26% of the voting share capital, at ₹12 per share, payable in cash.
• The offer is not conditional on any minimum level of acceptance.
• If the shares tendered exceed the offer size, acceptance will be on a proportionate basis.

Key dates

• Offer opening date: Wednesday, October 28, 2026.
• Offer closing date: Wednesday, November 11, 2026.
• Last date for revising the offer price or offer size: Monday, October 26, 2026.
• Date by which all requirements including payment of consideration would be completed: Thursday, November 26, 2026.

Approvals and conditions

• The Reserve Bank of India approval in connection with the open offer has been received vide RBI's letter dated Wednesday, September 30, 2026.
• India Cements Investment Services Limited, a subsidiary of the target company, is a SEBI-registered intermediary engaged in stock broking and depository participant activities; the proposed change in control and management of that subsidiary is subject to the requisite prior approval of SEBI.
• The offer is subject to compliance with the terms and conditions of the Share Purchase Agreement.

What shareholders may note

• Shares tendered in the offer cannot be withdrawn during the tendering period, even if there is a delay in acceptance or dispatch of consideration; a lien will be marked and the shares will remain blocked.
• If payment is delayed for reasons attributable to the acquirers, interest at 10% per annum may be payable for the period of delay.
• Post completion, public shareholding may fall below the minimum 25% required for continuous listing, and the acquirers would be responsible for restoring it within the prescribed timelines.
• Public shareholders who are non-residents must obtain and submit any requisite approvals, including from the RBI, to tender their shares.

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