Sanginita Chemicals Limited is the subject of an open offer by Acquirer 1, B N G Investment LLC, and Acquirer 2, Anubhav Agarwal. The offer aims to acquire up to 1,56,89,957 fully paid-up equity shares, representing 26% of the emerging fully diluted voting equity share capital, at an offer price of ₹13.55 per share. This open offer is a result of a substantial acquisition of shares, voting rights, and control under a Share Swap and Share Purchase Agreement (SSSPA) dated March 20, 2026. The SSSPA involves the acquisition of 65,78,994 equity shares from existing sellers at ₹13.05 per share, and a preferential allotment of 3,44,44,436 equity shares at ₹13.05 per share. This includes the acquisition of 95,00,000 equity shares of Agastya Green Energy Limited (AGEL) in consideration for issuing 1,52,87,356 Sanginita shares to B N G Investment LLC, and a further issuance of 1,91,57,080 Sanginita shares to B N G Investment LLC for a cash consideration of ₹13.05 per share. The tendering period for the open offer is scheduled to commence on Wednesday, June 10, 2026, and will close on Tuesday, June 23, 2026. The last date for upward revision of the offer price and/or size is June 8, 2026. The company's Board of Directors meeting held on March 20, 2026, approved the preferential allotment. Shareholders of Sanginita Chemicals Limited approved the preferential issue in an Extraordinary General Meeting held on April 11, 2026. The Acquirers intend to become promoters of Sanginita Chemicals Limited subsequent to the completion of the open offer. Upon completion, the current sellers will cease to hold any shares and relinquish control over the company. The offer price of ₹13.55 per share is lower than the closing prices on various announcement dates, including ₹17.01 on the Public Announcement date and ₹20.69 for the Draft Letter of Offer. Shareholders are advised to evaluate the offer price against the prevailing market price.
