Shah Foods Ltd

🔍 Open Offer for Shah Foods Ltd: Rs. 62.50/Share for 26% Equity

- Open offer price: Rs. 62.50 per share, based on independent valuation of Rs. 59.40

- Total consideration: Up to Rs. 37.89 crores for 60,61,900 shares (26% equity)

- Current acquirer and PAC holding: 68.13%; post-offer could reach 95.39%

- Negative net worth: Rs. -67.20 lakhs as of Dec 31, 2025

- Recent losses: Rs. -10.78 lakhs (Dec 2025), Rs. -21.91 lakhs (Mar 2024)

- Shift in focus: From food products to power solutions and batteries

- Escrow deposit: Rs. 9.50 crores, exceeding 25% requirement

- Acquirers' combined net worth: Over Rs. 9,000 lakhs, with no regulatory penalties

- Subsidiary Tandhan Power Technologies revenue: Rs. 10,419.20 lakhs for Dec 2025

- Offer period: May 13-26, 2026; unconditional (no minimum acceptance required)