RR Metalmakers Open Offer 2026: ₹23.85 Tender Dates

What has been announced

RR Metalmakers India Limited’s public shareholders will get an exit opportunity through a mandatory open offer that opens on September 23, 2026. The offer price is fixed at ₹23.85 per fully paid-up equity share. The tendering window will remain open until October 7, 2026, as outlined in the Detailed Public Statement (DPS). The change in control was triggered by a Share Purchase Agreement (SPA) executed on July 30, 2026.

The open offer has been announced by RB International Holdings Limited along with individuals Suyog Yogesh Desai and Nikita Suyog Desai. The acquirers published the DPS on August 6, 2026, confirming both the offer size and the offer timeline. The offer is being managed by Vivro Financial Services Private Limited.

Parties involved and the trigger event

The open offer follows an SPA under which the acquirers agreed to buy a 70.66% stake in RR Metalmakers India Limited from existing promoters Virat Sevantilal Shah and Alok Virat Shah. The SPA consideration is stated at ₹15,18,27,287.40, at a price of ₹23.85 per share. With this acquisition, the transaction results in a change of control and triggers the requirement to make an open offer to public shareholders.

The disclosures describe the open offer as mandatory and structured under SEBI (SAST) Regulations. The acquirers are expected to become the new promoters post-transaction. The material also states that the acquirers intend to retain the company’s listing status and that no delisting offer is proposed.

Open offer size, price, and maximum payout

The open offer is for up to 23,42,295 fully paid-up equity shares of RR Metalmakers India Limited. This represents 26.00% of the company’s equity share capital. The offer price is ₹23.85 per equity share and will be paid in cash.

Assuming full acceptance, the maximum consideration payable for the open offer is ₹5,58,63,735.75, described as about ₹5.58 crore. The DPS also notes that the offer is not subject to any minimum level of acceptance under Regulation 19(1) of the SEBI (SAST) Regulations. The acquirers have also stated that firm financial arrangements are in place to fund the acquisition.

Key dates: opening, closing, and payout

The DPS lays out a time-bound schedule for the offer process. The Draft Letter of Offer is required to be filed with SEBI by August 13, 2026. The letter of offer is to be dispatched to public shareholders by September 16, 2026.

Another key date is September 8, 2026, which is the identified date for determining eligible shareholders. The last date for upward revision of the offer price is September 21, 2026. The offer opens on September 23, 2026 and closes on October 7, 2026. The schedule also states payment completion by October 22, 2026.

Timeline table from the Detailed Public Statement

How the shareholding could change if fully accepted

As per the disclosure, after accounting for all acquisitions and assuming full acceptance of the open offer, the acquirers’ proposed shareholding is stated at 87,08,219 equity shares. This would amount to 96.66% of the total equity share capital. This scenario is dependent on the extent of participation by public shareholders during the tendering period.

The open offer itself is for 26% of equity share capital, while the SPA covers 70.66%. Together, these transactions represent a significant control shift, with the acquirers positioned to become the controlling shareholders and the new promoter group.

Key terms snapshot

Company profile details included in the disclosure

RR Metalmakers India Limited is described as being engaged in the manufacture of steel and related products, and trading of steel and iron ores in India and internationally. The material also notes that the company was formerly known as Shree Surgovind Tradelink Limited and changed its name to RR Metalmakers India Limited in April 2019. It was incorporated in 1995 and is based in Mumbai.

The registered office address mentioned is B-001 and B-002, Ground Floor, Antop Hill Warehousing, Complex Ltd, Barkat Ali Naka, Salt Pan Road, Wadala (E), Mumbai-400037, Maharashtra, India.

Market impact: what this means for public shareholders

For public shareholders, the immediate relevance is the fixed-price tender opportunity at ₹23.85 per share during September 23 to October 7, 2026. Since the offer is not subject to a minimum acceptance condition, tendering by shareholders does not depend on the overall participation level. The payment is specified to be in cash, with payment completion scheduled by October 22, 2026.

For the company, the sequence of the SPA and the open offer formalises the change in control. The disclosures explicitly point to the acquirers becoming the promoters and maintaining the listing status, which helps clarify that the transaction is framed as a promoter change rather than a delisting proposal.

Why the timeline matters

The calendar in the DPS sets clear checkpoints for regulatory filings and shareholder communications. The Draft Letter of Offer filing deadline (August 13, 2026) and the dispatch of the Letter of Offer (September 16, 2026) are key operational milestones before the tender window opens. The identified date (September 8, 2026) matters for determining which shareholders are eligible to participate.

The last date for upward revision of price (September 21, 2026) is another important marker, as it is the final window for any revision to the offer price within the stated process. Investors tracking the offer typically monitor these dates because they define when information becomes final for tender decisions.

Conclusion

RR Metalmakers India’s mandatory open offer opens on September 23, 2026 at ₹23.85 per share and closes on October 7, 2026, following a 70.66% promoter stake sale under an SPA dated July 30, 2026. The offer targets up to 26% of the equity share capital and is payable in cash, with payment completion scheduled for October 22, 2026. The next formal milestone in the process is the filing of the Draft Letter of Offer with SEBI by August 13, 2026, followed by dispatch of the Letter of Offer by September 16, 2026.