Neelkanth Rock-Minerals Limited (Target Company) announced the opening of its public offer for equity shares on August 17, 2026. The offer, managed by Mark Corporate Advisors Private Limited, aims to acquire up to 13,11,362 equity shares at a price of ₹19.40 per share, representing 26.00% of the voting share capital. This announcement follows SEBI (SAST) Regulations, 2011, and details the acquisition process and timeline for shareholders.
Public Offer Opening Announcement
Neelkanth Rock-Minerals Limited (the “Target Company”) has officially announced the commencement of its Open Offer to the public shareholders. The offer opened on Monday, August 17, 2026, as per the requirements of Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SEBI (SAST) Regulations, 2011”).
Offer Details and Acquirer Information
The Open Offer is being made by Mr. Sesha Sai Nikhil Chintalapati (“Acquirer”) to acquire up to 13,11,362 fully paid-up equity shares of ₹10 face value each in Neelkanth Rock-Minerals Limited. The offer price is set at ₹19.40 per equity share, payable in cash. This price represents 26.00% of the total Voting Share Capital of the Target Company. The Offer Price has not been revised since its initial announcement.
Newspaper Publications
In compliance with the SEBI (SAST) Regulations, 2011, the Offer Opening Public Announcement has been published in the following newspapers:
- Business Standard (English) – All Editions
- Business Standard (Hindi) – All Editions
- Navshakti (Marathi) – Mumbai Edition
- Prabhat Abhinandan (Hindi) – Jodhpur Edition
Key Dates and Schedule
The tendering period for the Open Offer commenced on Monday, August 17, 2026, and is scheduled to close on Tuesday, September 1, 2026. Shareholders are advised to refer to the Letter of Offer (LoF) for detailed procedures on tendering their shares, which is available on the websites of SEBI, BSE, and the Manager to the Offer.
The Committee of Independent Directors (IDC) of Neelkanth Rock-Minerals Limited has reviewed the offer and concluded that the Offer Price of ₹19.40 per equity share is fair and reasonable in accordance with SEBI regulations.
Source: BSE
