AI Champdany Industries Revised Open Offer Increases Size to 26%

Offer Size Revised to 79,95,997 Shares; Total Consideration Hiked to Rs 23.58 Crore.

Reader Takeaway: Investors benefit from a larger exit opportunity, though one underlying SPA has been officially terminated.

What just happened

AI Champdany Industries has published a corrigendum to its earlier Public Announcement dated November 02, 2026. The filing confirms a substantial upward revision in the open offer metrics. The offer size has expanded from 13.98% of equity capital to 26.00%, now covering 79,95,997 shares. Consequently, the total cash consideration has increased to Rs 23.58 crore from the initially projected Rs 12.68 crore.

Why this matters

This adjustment signals a change in the scale of the acquisition process by Gunny Dealers Limited and G Jerambhai Exports Limited. While the Share Purchase Agreement (SPA) between Acquirer 1 and Blancatex AG was terminated on November 07, 2026, the company clarified that this does not impact the viability of the open offer. The escrow funds remain in place, and the SPA involving Acquirer 2 and Jayshree Wadhwa remains fully binding and operational.

Additional Clarifications

The company has updated the definition of its voting rights, now inclusive of 2% Non-Convertible Cumulative Preference Share capital. Furthermore, the filing provides a revised breakdown of the Promoter and Persons Acting in Concert (PACs) shareholding, clarifying the status of different classes of preference shares, including both the 2% cumulative and 0.1% non-cumulative segments.

What to track next

Shareholders should monitor the formal progress of the remaining SPA execution and the final timeline set by the acquirers for the open offer. The revised figures represent a higher liquidity event for investors compared to the initial disclosure.