Ramgopal Polytex open offer: ₹17.10 bid in 2026

Open offer signals a formal change of control

Pravin Kumar Shishodiya and Punit Shishodiya have launched a mandatory open offer for Ramgopal Polytex Limited, seeking to acquire up to 37,70,000 equity shares, or 26.00% of the company’s equity share capital. The offer price has been set at ₹17.10 per share. The move follows a Share Purchase Agreement (SPA) executed on July 28, 2026, under which the acquirers agreed to buy a 45.46% stake from the existing promoter group.

The public announcement for the open offer was filed with BSE Limited on July 28, 2026. The offer is being managed by Corporate Professionals Capital Private Limited. The transaction is positioned as a change in control for the company, since the SPA transfers control over the management and affairs of Ramgopal Polytex to the Shishodiya brothers.

What the acquirers are offering to buy

Under the open offer, the acquirers are offering to purchase up to 37,70,000 shares at ₹17.10 each. If fully accepted, the total consideration works out to ₹6,44,67,000 (about ₹6.45 crore). The payment is proposed to be made in cash, and the announcement notes compliance with Regulation 9(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The open offer is described as not being conditional upon any minimum level of acceptance under Regulation 19(1). It is also not a competitive bid under Regulation 20.

The SPA that triggered SEBI (SAST) obligations

The open offer requirement was triggered after the Shishodiya brothers agreed to acquire 65,91,796 equity shares from the promoter group at ₹9 per share. The transaction value is stated as ₹5,93,26,164 (about ₹5.93 crore). With that purchase, the Shishodiya brothers together hold 45.46% of the company’s equity share capital, which crossed the threshold that triggers obligations under Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011.

The announcement frames this as a transfer of control from the existing promoter group to the incoming acquirers. The promoters, as sellers in the transaction, are stated to hold nil shares post-transaction.

Who sold the stake and what changes post-transaction

The selling shareholders listed in the disclosure include members and entities that formed part of the promoter and promoter group. The details provided show these holdings moving to nil after the sale:

• Mr. Mohanlal Ramgopal Jatia: 12,35,400 shares (8.52%) to nil
• Kalpana Trading Corporation: 10,64,800 shares (7.34%) to nil
• Seven Rivers Investments Private Limited: 26,61,296 shares (18.35%) to nil
• Ramgopal Synthetics Limited: 8,83,000 shares (6.09%) to nil

These four blocks total 65,91,796 shares, representing 45.46% of the equity share capital. The sale price disclosed for the underlying acquisition is ₹9 per share.

Shareholding after the SPA but before the open offer

Following the underlying transaction but before the open offer is completed, the disclosure states:

• Pravin Kumar Shishodiya holds 38,50,000 shares (26.55%)
• Punit Shishodiya holds 27,41,796 shares (18.91%)

Together, they hold 65,91,796 shares, or 45.46% of the target company’s equity share capital.

The total equity share capital is stated as ₹14,50,00,000, divided into 1,45,00,000 equity shares of face value ₹10 each.

Key dates investors may track: DPS and AGM

The detailed public statement (DPS), which typically carries comprehensive information on the offer price, acquirers, the target company, and financial arrangements, is scheduled to be published on or before August 04, 2026.

Separately, Ramgopal Polytex has scheduled its 45th Annual General Meeting (AGM) for August 06, 2026, at 3:30 p.m. IST. The AGM will be conducted through video conferencing and other audio-visual means. The company’s register of members and share transfer books will remain closed from July 31, 2026 to August 06, 2026 (both days inclusive) for the purpose of the AGM.

Stock snapshot and ownership mix mentioned in the disclosure

The information provided also includes a market snapshot stating Ramgopal Polytex Ltd (NSE: RAMGOPOLY) was trading at ₹19.68 and was up 5.0% on the day. A market capitalisation figure of ₹28 crore is also cited in the same snapshot, along with a sector label.

On shareholding, the latest quarterly shareholding filing referenced in the text shows promoter holding at about 45.46% to 45.5%, public holding at about 54.5%, and domestic institutional holding around 0.1%, with FII holding shown as 0.0%.

Why “mandatory” matters under SEBI (SAST) rules

The open offer is described as mandatory because the SPA led to an acquisition that triggers SEBI (SAST) thresholds under Regulation 3(1) and Regulation 4. In practical terms, this means the acquirers must provide an exit opportunity to public shareholders at the open offer price.

The disclosure also clarifies two important mechanics: first, the open offer is not conditional on a minimum acceptance level, and second, it is not a competitive bid. These points help investors understand that the offer is proceeding as a regulatory obligation rather than as a competing takeover contest.

Key facts table

What to watch next

The next formal disclosure milestone mentioned is the publication of the detailed public statement by August 04, 2026. For shareholders, that document is expected to consolidate key information on the acquirers, the offer price, and the financial arrangements for the cash payment.

With the change in control already linked to the SPA, the open offer is the regulatory process that follows. Investors will also likely track the AGM on August 06, 2026, given it falls soon after the DPS timeline and during the share transfer book closure window.