Ramgopal Polytex open offer: 26% at ₹17.10 in 2026

What has been announced

Pravin Kumar Shishodiya and Punit Shishodiya have launched a mandatory open offer for Ramgopal Polytex Limited (RPL) to acquire up to 37,70,000 equity shares. The offer size represents 26.00% of the company’s equity share capital, and the offer price has been set at ₹17.10 per share. The announcement follows a Share Purchase Agreement (SPA) that involves acquisition of a controlling stake, which triggered the open offer obligation under the takeover framework.

The maximum consideration, assuming full acceptance, has been stated at about ₹6.4467 crore (also cited as ₹6.45 crore) and will be paid in cash. The open offer has also been stated as not being subject to any minimum level of acceptance. If validly tendered shares exceed the offer size, shares will be accepted on a proportionate basis.

Trigger event: the SPA for a controlling stake

The open offer is linked to an SPA under which the acquirers agreed to purchase 65,91,796 shares of RPL, representing 45.46% of the equity, from the existing promoter group. The SPA price is stated at ₹9.00 per share, with an aggregate consideration of ₹5.9326164 crore.

With the SPA plus the open offer, the acquirers’ holding is indicated to rise substantially. The communication notes that post-offer, assuming full acceptance, the acquirers’ total holding would be 1,03,61,796 shares, or 71.46% of the equity share capital.

Offer size and pricing mechanics

The open offer covers up to 37,70,000 equity shares, which equals 26.00% of the company’s equity share capital. The offer price is ₹17.10 per share, payable in cash. One communication also notes that the open offer price is at a premium to the SPA price of ₹9.00 per share.

The open offer is described as a mandatory or triggered open offer under SEBI (SAST) Regulations, following the change in control through the SPA. Investors have been directed to the official Letter of Offer (LOF) for the procedure to tender shares.

Key dates: multiple schedules and a revision

The open offer timeline appears in multiple communications with different opening and closing dates. One schedule states the tendering period from September 25, 2026 to October 9, 2026, with a completion deadline of October 26, 2026. Another schedule mentions an opening date of September 18, 2026 and a closing date of October 1, 2026.

A later update states the timeline has been revised, with the tendering period now scheduled from September 16, 2026 to September 29, 2026, replacing a previously announced schedule. The same update states that the Letter of Offer is scheduled for dispatch by September 8, 2026, and that payment for accepted tenders must be made by October 14, 2026.

Escrow and funding arrangements

The total fund requirement for the open offer (maximum consideration) is stated as ₹6.4467 crore. An escrow amount of ₹1.62 crore has been deposited with Kotak Mahindra Bank, and it is described as more than 25% of the maximum consideration.

The payment mode for shares accepted in the open offer is stated as cash. The offer is also explicitly described as not conditional upon any minimum acceptance level.

Filing and intermediaries involved

Corporate Professionals Capital Private Limited is named as the “Manager to the Offer” and has submitted to BSE a copy of the Draft Letter of Offer for the attention of shareholders of Ramgopal Polytex Ltd (the target company). The registrar to the offer is stated as Ankit Consultancy Private Limited.

The Detailed Public Statement (DPS) is scheduled to be published on or before August 4, 2026, according to one communication. A separate timeline reference also points to the Draft Offer Document being filed with SEBI on August 6, 2026.

Stock identifiers and company contact points

Ramgopal Polytex trades under NSE symbol RAMGOPOLY and BSE code 514223, with ISIN INE410D01017.

The registered office is listed as Greentex Clearing House, B-1, 2 & 3, Gosrani Compound, Rehnal Village, Bhiwandi, Thane - 421302. The corporate office is stated as 701, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021. The company’s telephone is listed as 022-61396800 and the compliance email as rplcompliance@ramgopalpolytex.com.

Summary table: offer terms and trigger transaction

Timeline table: schedules as stated across updates

Market impact: what shareholders should focus on

For investors tracking takeover-related events, the key operational detail is that the offer is mandatory and linked to a control change via the SPA for 45.46% of equity. The open offer provides an exit route at a stated price of ₹17.10 per share for up to 26% of the share capital, subject to proportionate acceptance if tenders exceed the offer size.

The existence of multiple published timelines makes it important for shareholders to rely on the latest communicated schedule and the formal Letter of Offer for the final tendering process and settlement steps. The disclosures also specify escrow funding of ₹1.62 crore against a maximum offer outlay of ₹6.4467 crore, and cash payment for accepted tenders.

Why the event matters

A transaction structure involving an SPA for 45.46% followed by a mandatory open offer for 26% can lead to a concentrated post-offer shareholding if the open offer is fully accepted. In this case, the stated post-offer holding could reach 71.46%, based on the figures provided.

The open offer is also described as not being subject to any minimum acceptance, meaning the process can proceed even if tender participation is lower than the offer size. For shareholders, the practical next step is to track the LOF dispatch and the final tender window, because the official offer documents contain the tender method and relevant operational instructions.

Conclusion

Ramgopal Polytex’s mandatory open offer, led by Pravin Kumar Shishodiya and Punit Shishodiya, seeks up to 26% of equity at ₹17.10 per share, triggered by a 45.46% SPA for control. With revised dates now stated as September 16 to September 29, 2026 in one update, shareholders will likely watch for the formal Letter of Offer and the final settlement timeline, including the stated payment deadline of October 14, 2026.