Mayur Leather Products Sees Ownership Change Following New Open Offer

Offer Price set at Rs 27.92 per share; Offer size covers 12,57,048 equity shares.

Reader Takeaway: Open offer provides an exit route for minority shareholders during a major management transition period.

What just happened

Mr. Ghanshyam Hansrajani has initiated a mandatory open offer to acquire 12,57,048 equity shares of Mayur Leather Products Ltd, amounting to 26% of the company's voting capital. This development follows a Share Purchase Agreement executed on September 15, 2026, where the acquirer agreed to purchase 12,81,257 shares (26.50%) from the existing promoters.

Why this matters

The acquisition marks a definitive change in control and management for Mayur Leather Products. Investors are being offered an exit price of Rs 27.92 per share, which is notably higher than the Rs 15.00 per share price paid under the initial promoter agreement. The offer is not subject to any minimum acceptance criteria.

Schedule of Activities

• Commencement of Tendering Period: November 9, 2026
• Closure of Tendering Period: November 23, 2026
• Completion of payment or refunds: December 8, 2026

Risks to watch

The company has disclosed that it is currently not conducting any significant business operations. Investors should be aware that the stock is listed on both the BSE and the CSE, though trading on the CSE currently remains suspended.

Context metrics

For the quarter ended June 30, 2026, the company reported a net loss of Rs 7.65 lakh with zero income. In FY 2026, the company reported a total income of Rs 97.24 lakh and a net profit of Rs 127.37 lakh.

What to track next

Shareholders should monitor their mailbox for the official Letter of Offer. This document will provide step-by-step instructions for the tendering process. As the acquirer has already secured funds in an escrow account, the process is proceeding under standard SEBI regulatory compliance.