Mumbai: An open offer has been announced for the shareholders of Chemo Pharma Laboratories Limited. This offer is being made by Atibha Agriseeds Private Limited, the acquirer, who plans to buy 3,90,000 fully paid-up equity shares, which is 26 per cent of the company’s voting share capital. The offer price is Rs. 110 per share, and the payment will be made in cash.
This open offer follows the rules and regulations of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, along with the latest amendments. It is being conducted through the stock exchange mechanism. The tendering period will begin on Thursday, May 22, 2025, and will close on Wednesday, June 04, 2025.
The SEBI guidelines mentioned in circulars issued in 2015, 2016, 2017, 2019, 2020, and 2021 are being followed for this process. The Bombay Stock Exchange (BSE) has released a notice to inform all trading members and custodians about the offer. All details of the offer, including the Letter of Offer, are available on the BSE website.
This offer is being made under Regulations 3(1) and 4 of the SEBI Takeover Code, which deals with acquiring shares and control in a listed company. The process will be carried out as per the Revised Guidelines for Acquisition via Stock Exchange.
The shareholders of Chemo Pharma who wish to sell their shares at the offer price can do so during the tendering window. This is a voluntary open offer from Atibha Agriseeds, with the goal of acquiring a significant stake in the company.
