Jai Mata Glass open offer at ₹1.85: key 2026 details

Open offer announced after promoter stake deal

Mr. Ashwani Gulati, Ms. Kiran Gulati and M/s Veerasha Trust have announced a mandatory open offer for Jai Mata Glass Limited at ₹1.85 per share. The open offer has been triggered by the acquirers’ agreement to purchase a controlling promoter stake in the company. As per the disclosure, the underlying transaction involves the acquisition of 44.57% of the company’s equity shares, which changes the control structure.

The acquirers are offering to buy up to 2,60,00,000 equity shares, representing 26.00% of Jai Mata Glass’ paid-up equity share capital. The offer is stated to be not conditional upon a minimum level of acceptance. Corporate Professionals Capital Private Limited has been appointed as the Manager to the Offer.

Offer size, price, and consideration

The offer price is ₹1.85 per equity share, and the payment is proposed to be made in cash. Assuming full acceptance, the total consideration payable by the acquirers is estimated at ₹4,81,00,000 (₹4.81 crore). The open offer is positioned as a mandatory offer tied to the control change event rather than a discretionary buyback-type action.

The key number for shareholders is the offer price, because it becomes a reference point for those considering tendering. Alongside that, the number of shares being sought (26.00% of equity) indicates the maximum size of public participation the acquirers have budgeted for under the open offer route.

What triggered the open offer

The open offer was triggered after the acquirers entered into an agreement to acquire a 44.57% stake from existing promoters. The sellers named in the disclosure are Ms. Anu Marwah, Mr. Inesh Marwah and M/s J P Overseas Private Limited. The disclosed reason for the open offer is the acquisition of stake and the corresponding assumption of control over the target company.

Because the offer is linked to the change in control, it sits alongside the main share purchase transaction. The announcement states that the underlying transaction alters the control structure, which is why the acquirers are required to make the open offer.

Share Purchase Agreement details

The Share Purchase Agreement (SPA) was executed on July 13, 2026, between the acquirers and the sellers. Under the SPA, the acquirers are purchasing 4,45,65,460 equity shares at ₹1.85 per share. The aggregate transaction value for this stake purchase is stated as ₹8,24,46,101 (about ₹8.2446 crore).

This SPA covers the promoter stake acquisition that leads to the control transfer. The open offer is separate in structure but connected in cause, as it is triggered by the SPA and the resulting shift in shareholding control.

Key dates and disclosures to track

The Letter of Offer referenced in the disclosure is dated July 14, 2026, under the “Takeovers” category. The Detailed Public Statement is scheduled to be published on or before July 20, 2026. These are the key dates cited in the materials shared, and they matter because formal disclosure milestones typically set the pace for subsequent procedural steps.

Investors tracking the development would typically watch for the Detailed Public Statement, as it is explicitly mentioned with a deadline. The Manager to the Offer named is Corporate Professionals Capital Private Limited.

Jai Mata Glass: business profile and locations

Jai Mata Glass Limited is described as being incorporated in 1981. It is engaged in the glass business and also in procuring orders as a sales agent in the eastern and northern regions of India. The registered office address provided is Village Tipra, P.O. Barotiwala, Solan District, Himachal Pradesh, 174103.

The disclosure also includes contact and website details for the company, including the website (http://www.jaimataglass.com) and email (admin@jaimataglass.com). These operational identifiers are part of the standard company information that appears alongside takeover documentation and market data snapshots.

Management update: CFO appointment

Separately, Jai Mata Glass Limited appointed Mr. Aashish Gupta as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from June 1, 2026. He succeeds Mr. Rajesh Arya. The timing places the CFO change shortly before the SPA date and the open offer disclosures in July.

While the CFO appointment is not stated to be directly connected to the acquisition, it is a material corporate update mentioned alongside the transaction-related information.

Market references included in the disclosure snapshot

The provided market snapshot includes a “Bid / Ask” of 1.71 / 1.75 and also lists a “Current Price” of ₹1.90. It also lists a market capitalisation of ₹19.0 crore, a 52-week high/low of ₹3.79 / ₹1.37, book value of ₹0.21, dividend yield of 0.00%, ROCE of 3.40%, and ROE of -4.58%.

The open offer price of ₹1.85 sits close to the cited current price of ₹1.90 in the same snapshot. However, the article data does not provide a specific trading date for the “Current Price” line, and readers should treat it as a snapshot figure presented with the rest of the company statistics.

Summary table: open offer and SPA numbers

What this means for shareholders

For public shareholders, the open offer provides an exit route at a disclosed price of ₹1.85 per share, subject to the terms in the formal offer documents. The acquirers have stated that the offer is not conditional upon a minimum level of acceptance, which reduces uncertainty around whether the offer proceeds.

At the same time, the transaction indicates a change in control through the promoter stake acquisition. The control shift is central to why the open offer is being made and is likely to be the primary corporate event investors will track through the stated disclosure milestones.

Conclusion

Jai Mata Glass has a mandatory open offer on the table at ₹1.85 per share for up to 26.00% of its equity, triggered by an SPA to acquire a 44.57% promoter stake. The SPA was signed on July 13, 2026, and the Letter of Offer is dated July 14, 2026, with the Detailed Public Statement scheduled on or before July 20, 2026. The next concrete checkpoint for investors, based on the disclosed timeline, is the publication of the Detailed Public Statement and subsequent steps outlined in the offer documents.