Open Offer for 37,70,000 shares at INR 17.10 opens September 25, 2026; revised timetable

Open Offer update.

Thu 24 Sep 2026

Offer Size

upto 37,70,000 equity shares, being 26.00% of equity capital

Offer Price

INR 17.10 per share in cash

Tendering Period

Opens September 25, 2026 and closes October 09, 2026

Payment Completion

All payments by October 26, 2026

Directors' Committee View

Independent Directors Committee called the price fair and reasonable

What this update is

This is the offer opening public announcement plus a corrigendum to the earlier Detailed Public Statement for the mandatory open offer to shareholders of Ramgopal Polytex Limited.

Offer terms

• Acquirers: Mr. Pravin Kumar Shishodiya (Acquirer 1) and Mr. Punit Shishodiya (Acquirer 2)
• Shares sought: upto 37,70,000 equity shares
• That is 26.00% of the equity share capital
• Offer price: INR 17.10 per equity share, payable in cash
• For partly paid-up shares, the price is the offer price minus calls-in-arrears including unpaid interest, if any

Revised schedule

• Identified Date moved from September 01, 2026 to September 10, 2026
• Letter of Offer dispatch moved from September 08, 2026 to September 18, 2026
• Board recommendation date moved to September 22, 2026
• Tendering period opens September 25, 2026 (originally September 16, 2026)
• Tendering period closes October 09, 2026 (originally September 29, 2026)
• All requirements including payment of consideration to be completed by October 26, 2026

Directors' view

The Independent Directors Committee recommends that the offer price, being in compliance with applicable regulations, can be considered fair and reasonable. The recommendation was published on September 22, 2026. This is not a competing offer.

Capital structure disclosed

• Fully paid up equity shares: 1,42,67,500 carrying 100.00% of voting rights
• Partly paid up equity shares: 2,32,500 with nil voting rights
• Total paid up equity shares: 1,45,00,000

Under the company's Articles, partly paid-up shares carry no voting rights until fully paid.

Changes made on SEBI's comments

• Promoter and promoter group holding, earlier shown as a consolidated 65,91,796 equity shares (45.46%), is now disclosed member-wise.
• A risk factor was added noting that any failure by the company to comply with Minimum Public Shareholding requirements may lead to non-compliance with the Securities Contracts (Regulation) Rules, 1957 and SEBI (LODR) Regulations, 2015.
• Instances of non-compliance were disclosed: promoter group member Ramgopal Textiles Limited shared a disclosure under Regulation 29(2) for FY 22-23 on January 09, 2023 against a due date of January 06, 2023, a delay of 1 working day. For FY 22-23 and FY 24-25, reports under Regulations 10(6) and 10(7) were shared in time, but the 10(6) disclosure was shared individually for the acquirers without reflecting collective holding with acquirers and persons acting in concert.
• Other material changes since the Public Announcement: Nil.

How to participate

The offer runs through the stock exchanges' separate Acquisition Window. Nikunj Stock Brokers Limited is the Buying Broker. Shareholders holding shares in demat form tender through their selling broker; physical shareholders must submit the complete set of documents, subject to verification by the Registrar & Transfer Agent. The Letter of Offer and Form of Acceptance are available on the websites of SEBI, BSE, CSE and the Manager to the Offer.

How to read this

Shareholders now have a defined window to decide whether to tender shares at INR 17.10 or stay invested. Tendering is optional and acceptance may be proportionate if shares tendered exceed the offer size.

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.