Shantai Industries Ltd

Transaction details

• Target: Shantai Industries Limited, listed on BSE.
• Acquirer group: Radhe Dhokla Private Limited.
• PACs: Dishant Kanubhai Pandav; Nikunj Vijaybhai Prajapati; Jinesh Kanaiyalal Pandav; Pradipkumar Vijaybhai Pandav.
• Acquirer not part of promoter/promoter group.
• Exchanges: Shantai listed on BSE Limited.
• Pre-acquisition voting rights held: 0.00%.
• Acquisition: 55,80,000 shares, 74.40% of voting capital.
• Mode: Off Market Agreement pursuant to share purchase.
• Date of acquisition: 17-08-2026.
• Equity share capital before: 75,00,000 equity shares of Rs 2 each.
• Equity share capital after: 75,00,000 equity shares of Rs 2 each.
• Total diluted share/voting capital after acquisition: 75,00,000.
• Post-acquisition voting rights: 74.40%.
• Encumbrances: none reported.

Key transaction details

• Target company is Shantai Industries Limited.
• Disclosing parties: Vasudev Fatandas Sawlani, Murlibhai Fatandas Sawlani, Harishbhai Fatandas Sawlani, Disha Murlidhar Sawlani, Reena Harish Sawlani (Promoter group).
• Transaction type: Disposal of shares via off-market agreement.
• Pre-transaction holding: 55,80,000 shares (74.40% voting rights).
• Shares sold: 55,80,000 (74.40%), off-market.
• Post-transaction holding: 0 shares (0%).
• Date of transaction: 17-08-2026.
• Share capital context: before/after equity capital 75,00,000 shares; unchanged.
• Total diluted share capital after: 75,00,000.

Financial results

• Standalone unaudited quarterly results for quarter ended 30 June 2026 approved with Limited Review Report.

Board appointments

• Appointed Jinesh Pandav as Executive Director for five years from Aug 10, 2026, liable to retirement by rotation.
• Appointed Nikunj Prajapati as Executive Director for five years from Aug 10, 2026.
• Appointed Dishant Pandav as Executive Director for five years from Aug 10, 2026.
• Appointed Keyur Gordhanbhai Kaklotar as Independent Director for five years from Aug 10, 2026.

Corporate actions

• Name change to Radhe Dhokla Retail Limited subject to shareholders and MCA approvals.
• MOA Object Clause altered to enable food and beverage sector; subject to AGM and regulatory approvals.

Regulatory / disclosures

• No investor complaints received during the quarter.

Dematerialisation processing and depository substitution

• Securities dematerialised during the period were listed on the Stock Exchange.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• The depository's name has been substituted as registered owner in the records.
• Dematerialisation requests were processed within the prescribed time.

Open offer

• Acquirers are Radhe Dhokla Private Limited and four individuals.
• Target company is Shantai Industries Limited.
• Offer triggered by substantial acquisition under SEBI takeover regulations.

Offer terms

• Up to 19,20,000 equity shares will be acquired.
• Offer represents 25.60% of voting share capital.
• Offer price is ₹21 per share, payable in cash.
• Total consideration is up to ₹4,03,20,000.
• This is a mandatory open offer.

Background

• Offer follows transactions disclosed in the public announcement and detailed statement.
• No change in control or promoter status is stated in this chunk.

Shareholding impact

• Acquirers' pre-offer and post-offer shareholding are not stated here.
• No delisting or business strategy change is stated.
• Public shareholding compliance concerns are not stated here.

Timeline

• Tendering period opens on 9 June 2026.
• Tendering period closes on 22 June 2026.
• Eligible public shareholders may tender before closure.
• Identified date is 25 May 2026 for mailing the letter of offer.

Recommendations

• Independent directors' recommendation date is 5 June 2026.
• Recommendation outcome is not disclosed in this chunk.

Approvals

• No additional statutory approvals are stated here.
• Offer is subject to SEBI takeover regulations.

Meeting Details

• Board meeting scheduled for May 25, 2026 at 4:00 P.M.
• Meeting to be held at the registered office in Surat, Gujarat.

Key Agenda Items

• Approve standalone audited financial results for quarter and year ended March 31, 2026.
• Consider the audit report on those standalone audited financial results.

Other Notes

• Trading window closed from April 1, 2026 until 48 hours after results declaration.