Mayur Leather open offer 2026: 26% at ₹27.92

What has been announced

Mayur Leather Products Ltd has disclosed a public announcement dated 15-09-2026 stating that Mr. Ghanshyam Hansrajani will make an open offer to acquire up to 12,57,048 equity shares, representing 26% of the company. The offer is aimed at public shareholders and the announced offer price is ₹27.92 per share. The same disclosure links the open offer to a separate Share Purchase Agreement (SPA) executed on September 15, 2026.

The SPA involves the acquirer agreeing to buy 12,81,257 shares from the promoters. In the provided information, this promoter stake is described as 26.50% and is priced at ₹15.00 per share, with a stated transaction value of ₹1.92 crore. The open offer is described as a mandatory bid triggered under SEBI (SAST) Regulations due to the change in shareholding and control.

Open offer size, price and total consideration

As per the announcement, the open offer is for up to 12,57,048 shares, which equals 26% of Mayur Leather Products. The offer price is ₹27.92 per share. Assuming full acceptance, the total consideration for the open offer is stated at ₹3.51 crore.

The disclosure also states that the offer price of ₹27.92 was determined under Regulation 8(2) of the SEBI (SAST) Regulations. It is described as being based on the volume-weighted average market price of frequently traded shares over the preceding 60 trading days, in line with SEBI norms.

What triggered the open offer

The open offer follows the execution of the SPA to acquire 12,81,257 shares from the promoter group. The information provided describes this block as a 26.50% promoter stake being acquired from five promoter group entities. The same note adds that the selling promoters are expected to relinquish control and be declassified from the promoter category upon completion of the transaction.

The announcement also states that payment under the open offer will be made entirely in cash. It adds that the offer is unconditional regarding minimum acceptance levels, as per Regulation 19(1) of the takeover code.

Who is managing the transaction

Bonanza Portfolio Limited has been appointed as the manager to the offer, according to the announcement. The dataset also references the company’s “Letter of Offer” and “Public Announcement” dated 15-09-2026 under the “Takeovers” category.

About Mayur Leather Products

Mayur Leather Products Limited is described as an India-based manufacturer and exporter of leather shoes and shoe uppers. The company is also described as being engaged in the manufacture of leather footwear.

The provided dataset lists the registered address as “50 KA 1 Jyoti Nagar, Legislative Assembly, Jaipur, Rajasthan, 302005.” The email addresses shown include daamayurleather@gmail.com and mlp@mayurleather.com. A website appears as “http://www.mayurgrou” (as truncated in the text). The company’s manufacturing facility is stated to be located at Jaitpura, Jaipur in Rajasthan.

AGM and other corporate disclosures mentioned

The dataset states that Mayur Leather Products has confirmed its 41st Annual General Meeting (AGM) will be held on Tuesday, September 22, 2026. The meeting is scheduled for 2:00 pm at Fusion Restro, located at C-28, Pankaj Singhvi Marg, Main Vidhan Sabha Road, Lalkothi, Jaipur. Separately, the dataset also references a company announcement under Regulation 30 about “Intimation For Postponement Of The Annual General Meeting,” without providing additional details in the supplied text.

Market data points cited alongside the offer

Alongside the takeover disclosures, the provided information includes multiple price and valuation snapshots. One line states that the share price of MAYUR as on 4th September 2026 is ₹35.02. Another data point says that as of 3 Sep 2026, Mayur Leather Products share price is ₹33.4, with the stock opening at ₹33.4 and having closed at ₹31.8 the previous day.

The dataset also lists valuation metrics including a P/E ratio of 10.66 and a P/B ratio of 7.17. It also states “1 Year Returns: +201.57%,” as presented in the same compilation. These figures are included as reported data points in the source text and are not presented as forecasts.

Key numbers at a glance

Timeline of the stated events

Why the announcement matters for shareholders

An open offer at a stated price provides a formal exit option to public shareholders, subject to the terms in the offer documents and acceptance process. Here, the disclosure clearly links the open offer to a promoter stake sale through an SPA and frames it as a compliance requirement under SEBI (SAST) Regulations.

The announcement also highlights two different prices within the same transaction set: ₹15.00 per share for the promoter block under the SPA and ₹27.92 per share for the open offer to public shareholders, with the offer price described as being derived using the SEBI-prescribed method for frequently traded shares. Investors typically track such disclosures for changes in control, promoter classification, and the process milestones that follow the public announcement and letter of offer.

Conclusion

Mayur Leather Products’ public announcement dated 15-09-2026 states that Mr. Ghanshyam Hansrajani will acquire 12,81,257 shares from promoters via an SPA and then make an open offer for up to 12,57,048 shares (26%) at ₹27.92 per share. The open offer consideration is stated at ₹3.51 crore if fully accepted, with Bonanza Portfolio Limited appointed as the manager. The dataset also notes the company’s 41st AGM scheduled for September 22, 2026, as part of the broader set of corporate updates around the same period.