SBA Infra Projects has entered into a definitive agreement to acquire a 74.31% controlling stake in Rishabh Digha Steel & Allied Products for Rs 19.16 crore. Following the acquisition, the firm has triggered a mandatory open offer to acquire an additional 25.69% stake from public shareholders at Rs 47 per share.
SBA Infra Projects Acquires Majority Control in Rishabh Digha Steel
Acquirer: SBA Infra Projects Private Limited to buy 74.31% stake for Rs 19.16 crore.
Mandatory open offer for 25.69% of equity at Rs 47 per share total value Rs 6.63 crore.
Reader Takeaway: Acquisition signals a change in management control; retail investors get exit opportunity at set offer price.
What just happened
SBA Infra Projects Private Limited has signed a Share Purchase Agreement (SPA) to acquire 40,76,701 equity shares of Rishabh Digha Steel & Allied Products Ltd from the existing promoter group. This transaction accounts for 74.31% of the company's voting share capital and marks a complete transition of control. Consequently, the buyer has initiated a mandatory open offer under SEBI takeover regulations to purchase an additional 25.69% stake (14,09,699 shares) from the remaining public shareholders.
Why this matters
The deal effectively results in a change of ownership and management for Rishabh Digha Steel. Public shareholders now have a defined exit route via the open offer, which is priced at Rs 47 per share. Upon completion, the current promoter group will be declassified, and SBA Infra Projects will assume full operational control of the steel products manufacturer.
Next steps
The acquirer is set to issue a Detailed Public Statement (DPS) by November 5, 2026. This document will outline the specific timelines, procedural formalities, and offer acceptance process for public shareholders. Shareholders should monitor the official exchange filings for the final schedule of the tendering period.