BSE · Corporate Action · Medium
BSE opens an open offer for Trio Mercantile at Rs. 1.25 per share
Acquirer Kaushik Jagannath Joshi and PACs seek up to 50% of Trio Mercantile at Rs. 1.25 per share in cash. Offer runs July 29 to Aug 11.
What changed
- Open offer to buy up to 3,39,68,300 shares (50% of equity) at Rs. 1.25 per share.
- Acquirer: Kaushik Jagannath Joshi and four PACs; payment in cash.
- Offer window: July 29, 2026 to August 11, 2026.
The read
BSE has notified the opening of a cash open offer for Trio Mercantile at Rs. 1.25 per share, a steep discount to the face value of Rs. 2. Acquirer Kaushik Jagannath Joshi, along with four PACs, is aiming for 50% of the equity. The offer must be processed through the Acquisition Window as per SEBI takeover regulations. For existing shareholders, the price is final – either tender or hold. Given the low premium, the market's reaction will indicate whether the offer is seen as fair or coercive.
Trio Mercantile & Trading LimitedKaushik Jagannath JoshiRs. 1.25 per share
Primary source: official circular (PDF)