Shah Foods Limited: Jalan Brothers Launch Open Offer for 26% Stake at ₹62.50 Per Share

Ankit Jalan and Anuj Jalan have announced a mandatory open offer to acquire up to 60,61,900 equity shares of Shah Foods Limited at ₹62.50 per share, representing 26.00% of the company's emerging equity and voting share capital. The offer, valued at ₹37,88,68,750, follows regulatory requirements under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations. Open Offer Structure and Pricing The cash offer is being made jointly by the Jalan brothers along with seven persons acting in concert (PACs), including Jalan Sarees Private Limited and various family members. The offer price of ₹62.50 per fully paid-up equity share will be paid entirely in cash, in accordance with SEBI regulations. Parameter: Details Offer Size: 60,61,900 equity shares Percentage of Capital: 26.00% of emerging equity capital Offer Price: ₹62.50 per share Total Consideration: ₹37,88,68,750 Payment Mode: Cash Triggering Transactions The open offer obligation was triggered by two key transactions approved on February 10, 2026. The board of directors of Shah Foods Limited authorized a preferential allotment of 2,27,17,500 fully paid-up equity shares, representing 97.44% of the emerging equity and voting share capital. Under this preferential issue, the Jalan brothers and their associates will receive 1,58,85,037 equity shares in exchange for acquiring 1,67,00,000 equity shares of Tandhan Power Technologies Private Limited at ₹62.50 per share. Additionally, 68,32,463 equity shares will be allotted to public category investors at ₹110 per share. Acquirer/PAC: Equity Shares Allocated Percentage of Emerging Capital Ankit Jalan: 40,20,802 17.87% Anuj Jalan: 41,32,474 18.35% Jalan Sarees Pvt Ltd: 22,69,953 9.74% Other PACs: 54,21,808 23.26% Share Purchase Agreement Simultaneously, the Jalan brothers executed a share purchase agreement to acquire 2,92,839 existing equity shares (1.26% of emerging capital) from seven current promoters of Shah Foods Limited. This acquisition, valued at ₹1,75,70,340, will be completed at ₹60 per share. Post-Transaction Shareholding Following the completion of both transactions, the Jalan brothers and their associates will collectively hold 1,61,77,876 shares, representing 69.39% of Shah Foods Limited's emerging equity and voting share capital. The Jalan brothers will be classified as promoters, while the PACs will form part of the promoter group. Regulatory and Timeline Details The open offer is being managed by Navigant Corporate Advisors Limited, which holds SEBI registration number INM000012243. The detailed public statement containing comprehensive offer terms will be published in newspapers on or before February 17, 2026. Shah Foods Limited, incorporated in 1982 and headquartered in Ahmedabad, Gujarat, has its shares listed on BSE Limited under scrip code 519031. The company's equity shares are classified as infrequently traded under SEBI regulations. The preferential allotment requires approval from shareholders through an extraordinary general meeting scheduled for March 06, 2026. 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 platform built for super traders and long term investors.