JAJ.A. Finance543860Open offer update

Committee of independent directors reviews open offer for up to 26.00% of paid-up equity

J.A. Finance's Committee of Independent Directors met on October 13, 2026 and reviewed the open offer from three acquirers.

By ScoutQuest · Tue 13 Oct 2026, 5:43 PM IST · 2 min read

Offer size

up to 27,68,671 equity shares of face value Rs. 10 each

Offer percentage

26.00% of the total paid-up equity and voting share capital

Committee meeting date

Tuesday, October 13, 2026 at 1:00 P.M. (IST)

What was informed

J.A. Finance Limited, referred to in the update as the Target Company, informed BSE Limited and The Calcutta Stock Exchange Limited about the outcome of a meeting of its Committee of Independent Directors.

The meeting was held on Tuesday, October 13, 2026 at 1:00 P.M. (IST) at the registered office of the Target Company in Kolkata.

At this meeting, the Committee discussed, analysed and reviewed the open offer made by Mr. Sachin Ishwarchand Goyal (Acquirer 1), Mr. Numan Sachin Goyal (Acquirer 2) and Mr. Salil Vijay Sathe (Acquirer 3), together called the Acquirers.

What the open offer involves

An open offer is a public offer made to the existing shareholders of a listed company to buy their shares, and it is made under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• The Acquirers are offering to acquire up to 27,68,671 equity shares of the Target Company.
• Each of these shares has a face value of Rs. 10/-.
• The shares covered by the offer represent 26.00% of the total paid-up equity and voting share capital of the Target Company.

The update states that the offer is made pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

What happens next

The recommendations of the Committee of Independent Directors on the open offer will be published in the same newspapers in which the Detailed Public Statement dated February 04, 2025 has appeared.

A copy will also be furnished to the Securities and Exchange Board of India, to the stock exchanges where the equity shares of the Target Company are listed (The Calcutta Stock Exchange Limited and BSE Limited), and to the Manager to the Offer, VC Corporate Advisors Private Limited, in due course.

Why this matters to a shareholder

The Committee of Independent Directors is a group of independent directors of the target company. In an open offer, its role is to examine the offer and give shareholders its recommendation on it.

This update records that the Committee met and reviewed the offer, and that its recommendations will be made public. A shareholder can read those recommendations when they are published to understand the Committee's view before deciding whether to tender shares in the open offer.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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