Tusaldah share price: ₹20 open offer, 2026 dates

The latest filing that put Tusaldah in focus

Tusaldah Ltd (formerly High Street Filatex) has disclosed a mandatory open offer for public shareholders after regulatory filings linked to a proposed preferential issue of securities. The Detailed Public Statement was released by Navigant Corporate Advisors, acting as the manager to the offer. The open offer aims to acquire up to 26% of Tusaldah’s expanded voting share capital at a fixed price of ₹20 per share. The announcement ties the open offer directly to a preferential issue of shares and warrants to the acquirers. For shareholders, the development matters because it sets a defined exit price through the tender route and updates the expected post-transaction promoter holding.

Who is making the open offer

The acquirers in the transaction are the company’s promoters, Mr. Sandeep Jagdishprasad Agrawal and Mrs. Anupriya Sandeep Agrawal. Filings indicate the open offer is part of a management control consolidation strategy. The disclosures also link the transaction to a board-approved related-party transaction involving Tusaldah Ventures Private Limited (TVPL). Navigant Corporate Advisors Limited has been named as the manager to the offer in the public announcement.

What triggered the mandatory open offer

The open offer has been triggered by a preferential issue of securities by Tusaldah Ltd, including equity shares and convertible warrants. The board approved the preferential issue on September 25, 2026. According to the filing summary, this preferential allotment increases the acquirers’ joint holding from 33.42% to 45.03% of the emerging equity capital, and to 52.87% on full warrant conversion. Separately, another disclosure states the promoters aim to increase their stake to 78.87% post-preferential allotment, reflecting the company’s expected holding structure after the related steps described in the announcements.

Open offer price, size, and total cash outlay

The offer price is ₹20.00 per equity share. The offer size is up to 37,83,000 equity shares, representing 26.00% of the expanded equity capital. If fully accepted, the total consideration stated in the filings is about ₹7.56 crore (also reported as ₹7.57 crore in one announcement). The mode of payment is cash. The filings also state the offer is not conditional on any minimum acceptance level.

Key dates: offer window and payment timeline

Investors tracking the tender process have three dates highlighted in the shared timeline. The offer opening date is November 20, 2026. The offer closure date is December 4, 2026. The payment of consideration is scheduled for December 18, 2026. Separately, the filings note the Detailed Public Statement is to be published on or before October 5, 2026, and an EGM for member approval of the preferential issue is proposed for October 27, 2026.

Preferential issue and warrants: what the company disclosed

Tusaldah has also reported issuance of securities on a preferential basis. One disclosure mentions issuance up to 63,50,000 convertible warrants of face value ₹10 each at an issue price of ₹20 each, on a preferential basis, for cash consideration to promoter and non-promoter categories. Another line mentions issuance up to 29,47,271 equity shares of face value ₹10 each at an issue price of ₹20 each, on a preferential basis, for cash consideration to the non-promoter public category. A separate data point states Tusaldah has estimated cash proceeds of ₹18.59 crore from the preferential allotment of equity shares and convertible warrants.

The filing summary also notes the preferential issue includes 29,09,299 equity shares to the acquirers as consideration for acquisition of 5,98,000 shares of Tusaldah Ventures Private Limited. These steps, taken together, explain why the transaction falls under the takeover code thresholds that require an open offer.

Regulatory framework and offer conditions

The open offer is stated to be made under Regulation 3(1) and 3(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The public announcement also references compliance under other relevant regulations for open offers, as cited in the BSE submission. Importantly for shareholders, the disclosures state the offer is not conditional on any minimum acceptance level. Investors planning to tender shares are expected to rely on the Letter of Offer for the operational process and documentation.

Risk note: ‘infrequently traded’ classification

The disclosures flag that Tusaldah shares are categorized as infrequently traded on the BSE, which influenced the valuation method used to arrive at the ₹20 offer price. This point matters because valuation norms can differ when liquidity is limited. The filing-based takeaway is procedural rather than predictive: shareholders should wait for the Letter of Offer to understand the tender mechanism, timelines, and any tax or process-related considerations stated in the document.

Market references available in the filings

A BSE end-of-day reference shared in the material shows a price of 143.35 at 15:50 on 25-09-2026, with a move of 6.80 (4.97%). The open offer price, as repeatedly disclosed, is ₹20 per share. The filings do not explain this gap, and investors should treat the offer price and the market reference as separate disclosed data points, while relying on the final offer documents for actionable instructions.

Company profile and operating segments

Tusaldah Limited was incorporated in 1994 and is described as an exporter and manufacturer of socks. The operating list in the material includes knitted socks, head bands, wrist bands, yarn trading, and commodities trading. The company is also described as formerly known as High Street Filatex, with filings pointing to a strategic shift in description toward trading and retail.

Conclusion

Tusaldah’s promoters have initiated a ₹20-per-share open offer for 26% of expanded equity, following a preferential issue approved on September 25, 2026. The offer runs from November 20 to December 4, 2026, with payment scheduled for December 18, 2026. Shareholders considering participation should watch for the Letter of Offer and other exchange filings for the final tender process and instructions.