Shishodiya brothers seize Ramgopal Polytex control in ₹5.93 crore deal, launch open offer
What's the deal? Pravin Kumar Shishodiya and Punit Shishodiya have agreed to buy a 45.46% stake in Ramgopal PolytexDealroom has a profile for this one. Try Dealroom → Limited from its existing promoter group, triggering a mandatory open offer for up to 37,70,000 more shares. The Share Purchase Agreement, executed on July 28, 2026, transfers control of the company to the Shishodiya brothers. The public announcement was filed with BSEDealroom has a profile for this one. Try Dealroom → Limited the same day.
What the acquirers are buying: Under the underlying deal, the brothers acquired 65,91,796 shares at ₹9 each, a transaction valued at ₹5,93,26,164 (about ₹5.93 crore). That gave Pravin Kumar Shishodiya 26.55% and Punit Shishodiya 18.91%, or 45.46% combined — crossing the threshold that triggers open offer obligations under SEBI's takeover rules.
Why now? The purchase crossed the limit set under Regulation 3(1) and Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. That legally requires the acquirers to extend an open offer to public shareholders.
The open offer: The Shishodiyas are offering ₹17.10 per share for up to 37,70,000 shares, or 26% of equity capital. If fully accepted, the cash payout totals ₹6,44,67,000 (about ₹6.45 crore). The offer is not conditional on any minimum acceptance and is not a competitive bid.
Who sold? Four promoter-group holders exited fully: Seven Rivers Investments Private Limited (18.35%), Mohanlal Ramgopal Jatia (8.52%), Kalpana Trading Corporation (7.34%), and Ramgopal Synthetics Limited (6.09%). All move to nil post-transaction.
What to track: The detailed public statement is due on or before August 04, 2026. Ramgopal Polytex will hold its 45th Annual General Meeting on August 06, 2026 at 15:30 IST via video conferencing, with the register of members closed from July 31 to August 06.
The signal: The deal marks a clean generational handover — one promoter group exits entirely as new control comes in. Notably, the open offer price of ₹17.10 sits well below the stock's ₹22.77 market price, a gap that could shape how many public shareholders tender.
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