Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar, along with Mrs. Neha Agarwal (PAC), have launched an open offer to acquire up to 56,43,612 equity shares of India Cements Capital Limited. The offer represents 26.00% of the voting share capital and is priced at ₹12 per share, payable in cash. This move, triggered by a Share Purchase Agreement, signifies a substantial shift in the company’s ownership and control structure.
Open Offer for India Cements Capital Initiated
An open offer has been formally announced by Mr. Sandeep Jain, Mr. Vikas Garg, and Mr. Rahul Nagar (collectively referred to as the “Acquirers”), supported by Mrs. Neha Agarwal acting as Persons Acting in Concert (“PAC”). This offer aims to acquire up to 56,43,612 fully paid-up equity shares of India Cements Capital Limited. These shares represent approximately 26.00% of the total voting share capital of the Target Company.
Offer Price and Terms
The offer price is set at a premium of ₹12/- (Rupees Twelve Only) per equity share, payable in cash. This open offer is a direct result of a Share Purchase Agreement (SPA) executed on Friday, July 24, 2026, where the Acquirers agreed to acquire a significant stake from the promoter sellers, thereby gaining control over the Target Company.
Tendering Period and Management Change
The tendering period for this offer is scheduled to commence on Wednesday, October 28, 2026, and will close on Wednesday, November 11, 2026. Upon successful completion of this open offer and the underlying transaction, the Acquirers are set to become the new promoters of India Cements Capital Limited, exercising control over its management and affairs, while the existing promoters will cease to hold that position.
Key Dates and Financials
The Identified Date for determining the eligible shareholders is Tuesday, October 13, 2026. The total funds required for this acquisition, assuming full acceptance, amount to approximately ₹6,77,23,344/-. The Acquirers have confirmed adequate financial resources and firm arrangements are in place for the full implementation of the offer.
Source: BSE
