Neelkanth Rockminerals Ltd

Open Offer Details

• Target company is Neelkanth Rock-Minerals Ltd.
• Open Offer Opening Public Announcement published on August 17, 2026.
• Regulatory basis: SEBI SAST Regulations, Regulation 18(7), 2011.
• Newspaper publications: Business Standard English/Hindi, Navshakti Marathi, Prabhat Abhinandan Hindi.
• Newspaper clipping of the Offer Opening Public Announcement enclosed.

IDC open offer recommendation

• IDC recommends an open offer to Neelkanth Rockminerals' public shareholders under Reg 26(7) SEBI SAST.
• Recommendations signed by IDC chair and published Aug 14, 2026 in four newspapers.
• Newspapers: Business Standard English/Hindi, Navshakti Marathi (Mumbai), Nava Telangana Telugu (Hyderabad).
• Newspaper clipping attached; process related to the open offer; records to be updated.
• Issuer: Neelkanth Rockminerals Ltd; Scrip code 531049.

Offer overview

• Open Offer to acquire up to 13,11,362 equity shares (26% voting) at ₹19.40 per share.
• Total offer size: ₹2,54,40,422.80; not conditional; 1-share market lot; no minimum acceptance.
• Promoter SPA transfers 62.06% promoter stake; post-offer acquirer holding about 88.06%.
• Identified date 04 Aug 2026; offer opens 18 Aug 2026; closes 01 Sep 2026.

Transaction financing & governance

• Total SPA consideration ₹6,07,21,049.40; Earnest Money ₹2.00 crore already paid.
• Escrow: ₹75 lakh with Yes Bank; escrow to fund offer obligations.
• Acquirer: Mr. Sesha Sai Nikhil Chintalapati; net worth ₹4,686 lakh; not part of a group.
• Objective: diversify into AI; post-closing board changes; Independent Director committee to recommend.

Target company snapshot

• Target not currently operating; income from other sources; paid-up capital ₹5.0437 crore.
• Listed on BSE as NEELKAN (531049); board includes Noratmal Kawar and Anil Kawar.

Dematerialisation processing and owner update

• Securities received for dematerialisation during the quarter ended 30 June 2026 were confirmed to the depositories.
• The securities have been listed on the stock exchanges where the earlier issued securities are listed.
• Certificates received for dematerialisation were mutilated and cancelled after due verification.
• The depository's name has been substituted in the register of members as registered owner within prescribed timelines.

Re-appointment of Managing Director

• Mr. Noratmal Kawar re-appointed as Managing Director for three years from March 26, 2026
• Re-appointment subject to shareholder approval at the upcoming Annual General Meeting
• Mr. Noratmal Kawar is a Commerce graduate with over 20 years of manufacturing experience
• He has led initiatives to boost company production and sales
• Mr. Noratmal Kawar is brother of Director Anil Sayarchand Kawar
• He is not debarred from holding director office by SEBI or other authorities

🗓️ Meeting Details

• Board meeting scheduled for 14 February 2026 at Neelkanth Rock-Minerals Limited registered office.

📊 Key Agenda Items

• Approval of un-audited financial results for quarter ended 31 December 2025.