Shah Foods Independent Directors' Committee Clears Open Offer by Ankit Jalan and Anuj Jalan as Fair and Reasonable

The Committee of Independent Directors of Shah Foods Limited met on 08.05.2026 to evaluate the open offer by acquirers Mr. Ankit Jalan and Mr. Anuj Jalan to acquire up to 60,61,900 equity shares of the company. Following a detailed review of all relevant offer documents, the committee formally concluded that the open offer is fair and reasonable.

Open Offer Details

The open offer pertains to the acquisition of equity shares representing 26.00% of Shah Foods Limited's existing equity and voting share capital. The key parameters of the offer are outlined below:

Parameter: Details Shares Offered for Acquisition: Up to 60,61,900 equity shares Face Value per Share: ₹10/- each Offer Price per Share: ₹62.50/- per fully paid-up equity share Percentage of Equity Capital: 26.00% of existing equity and voting share capital Acquirer 1: Mr. Ankit Jalan Acquirer 2: Mr. Anuj Jalan

Persons Acting in Concert (PACs)

The acquirers are supported by the following persons acting in concert:

PAC-1: Jalan Sarees Private Limited

PAC-2: Ritu Jalan

PAC-3: Daivik Jalan

PAC-4: Prachi Jalan

PAC-5: Ankit Jalan HUF

PAC-6: Anuj Jalan HUF

PAC-7: Radhika Jalan

Key Offer Documents Reviewed

The Committee of Independent Directors discussed, analysed, and reviewed the following documents before arriving at its conclusion:

Document: Date Public Announcement: 10th February, 2026 Detailed Public Statement: 16th February, 2026 (published 17th February, 2026) Letter of Offer: 29th April, 2026 Committee Meeting Date: 08.05.2026

Committee's Conclusion

After a thorough review of all offer-related documents, the Committee of Independent Directors of Shah Foods Limited concluded that the open offer is fair and reasonable. The outcome was communicated to BSE Limited by Mr. Advait Satyavikas Joshi, Chairman of the Committee of Independent Directors (DIN: 07637069), from Ahmedabad on 08.05.2026.

Shah Foods Limited has fulfilled its quarterly compliance obligations by submitting the mandatory certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31st March 2026. The submission was made to BSE Limited on 08th April 2026, demonstrating the company's adherence to regulatory requirements.

Regulatory Compliance Details

The certificate was submitted pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates listed companies to provide quarterly confirmations regarding the proper handling of securities received for dematerialization.

Parameter: Details Quarter Covered: Q4FY26 (ended 31st March 2026) Submission Date: 08th April 2026 Submitted To: BSE Limited Scrip Code: 519031 Signatory: Hemakshi Manan Patel, Managing Director

Certificate Confirmation by Registrar

Bigshare Services Private Limited, serving as the Registrar and Share Transfer Agent for Shah Foods Limited, issued the compliance certificate on 08th April 2026. The certificate confirms several key compliance aspects:

All securities received from depository participants for dematerialization up to 31st March 2026 were properly confirmed to the depositories

Securities comprised in the certificates have been listed on the stock exchange where earlier issued securities are listed

Security certificates received for dematerialization were mutilated and cancelled after due verification by the depository participant

Names of depositories were substituted in the register of members as registered owners within the prescribed 15-day timeframe

Corporate Information

Shah Foods Limited operates from its registered office at 301, Sarthik Square, Nr. Shapath - 3, S. G. Highway, Bodakdev, Ahmedabad - 380054, Gujarat. The company maintains its corporate identification number as L27200GJ1982PLC005071 and can be contacted at shahfoods.ahmedabad@gmail.com .

The certificate was digitally signed by Managing Director Hemakshi Manan Patel (DIN: 07297442) and countersigned by Akash Shamal as the authorized signatory from Bigshare Services Private Limited. This quarterly submission ensures Shah Foods Limited remains compliant with SEBI's depositories regulations and maintains transparency in its securities handling processes.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.