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STARSOURCE MULTITRADE LIMITED M&A Activity 2025
63364_rns_2025-05-28_73a9686b-fa99-4a5c-a131-9263f6e00f89.pdf
M&A Activity
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Wednesday, May 28, 2025
T0 BSE Limited. P.J. Towers, Dalal Street. Mumbai $-400001$ . Maharashtra, India.
Respected Sir/ Madam,
- Subject : Submission of Corrigendum to the Letter of Offer and the Pre-Offer Public Announcement to the Public Shareholders of the M/s Chemo Pharma Laboratories Limited.
- Reference : Open Offer made by M/s Atibha Agriseeds Private Limited (Acquirer) for acquisition of up to 3,90,000 Offer Shares representing 26.00% of the Voting Share Capital from the Public Shareholders of M/s Chemo Pharma Laboratories Limited
Dear Sir/Madam.
We would like to inform you that, in accordance with the provisions of Regulation 12 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, including subsequent amendments ('SEBI (SAST) Regulations'), Swaraj Shares and Securities Private Limited, has been appointed as the Manager to the Offer ('Manager'), by M/s Atibha Agriseeds Private Limited ('Acquirer'). The Acquirer has announced an Open Offer in compliance with the provisions of Regulations 3 (1), and 4 and such other applicable regulations of the SEBI (SAST) Regulations, for the acquisition of up to 3,90,000 Offer Shares representing 26.00% of the Voting Share Capital of M/s Chemo Pharma Laboratories Limited ('Target Company') from its Public Shareholders. The Offer Price of ₹110.00/- has been determined in accordance with the parameters prescribed under Regulations 8 (1) and 8 (2) of the SEBI (SAST) Regulations per Offer Share, payable in cash, assuming full acceptance aggregating to a maximum consideration of aggregating to an amount of ₹4,29,00,000.00/- that will be offered to the Public Shareholders who validly tender their Offer Shares.
This Offer is triggered in compliance with the provisions of Regulations 3 (1), and 4 of the SEBI (SAST) Regulations, pursuant to the execution of the Share Purchase Agreement dated Tuesday, February 18, 2025, wherein the Acquirer has agreed to acquire 4,18,281 Sale Shares, representing 27.89% of the Voting Share Capital of the Target Company from the Selling Promoter Shareholders, namely being, M/s Citric India Limited (Selling Promoter Shareholder 1), and Mrs. Shanta Somani (Selling Promoter Shareholder 2) at a negotiated price of ₹100.00/- per Sale Share, aggregating to an amount of ₹4,18,28,100.00/-, payable subject to the terms and conditions specified in the said Share Purchase Agreement.
In this regard, and in compliance with the provisions and requirements under the SEBI (SAST) Regulations, the Corrigendum to Letter of Offer and the Pre-Offer Public Announcement ('Corrigendum') for the aforesaid Offer has been published today, i.e. Wednesday, May 28, 2025 in Financial Express (English daily) (All Editions), Jansatta (Hindi daily) (All Editions), and Mumbai Lakshadeep (Marathi Daily) (Mumbai Edition), ('Newspapers') and a copy of one of the said e-Newspaper has been enclosed herewith for your kind perusal.
We hope your good self will find the above in order and we request you to kindly upload Corrigendum to the Letter of Offer and Pre-Open Offer Advertisement on your website at the earliest.
Thank you for your attention to this matter.
Swaraj Shares and Securities Private Limited
www.swarajshares.com
+91 9874283532
+91 8097367132
Registered Office - 21 Hemant Basu Sarani, 5th Floor, Room No 507, Kolkata - 700001, West Bengal, India Branch Office - Unit 304, A Wing, 215 Atrium, Near Courtyard Marriot, Andheri Kurla Road, Andheri East, Mumbai - 400093, Maharashtra, India
FINANCIAL EXPRESS
CORRIGENDUM TO THE LETTER OF OFFER AND THE PRE-OFFER PUBLIC ANNOUNCEMENT IN TERMS OF SECURITIES AND EXCHANGE BOARD OF INDIA
CHEMO PHARMA LABORATORIES LIMITED
A public limited company incorporated under the provisions of the Companies Act, 1956
Corporate Identification Number: L99999MH1942PLC003556;
Registered Office: 5, Kumud Apartment CHS Limited, Karnik Road Chikan Ghar, Kalyan - 421301, Thane, Maharashtra, India;
Contact Number: 022-22078381 / 022-22078382; E-mail Address: [email protected];
Website: www.thechemopharmalaboratoriesitd.com:
THIS CORRIGENDUM TO THE LETTER OF OFFER AND THE PRE-OFFER PUBLIC ANNOUNCEMENT IS ISSUED BY SWARAJ SHARES AND SECURITIES PRIVATE LIMITED, THE MANAGER TO THE OFFER, ON BEHALF OF M/S ATIBHA AGRISEEDS PRIVATE LIMITED (ACQUIRE ("CORRIGENDUM TO THE LETTER OF OFFER AND THE PRE-OFFER PUBLIC ANNOUNCEMENT").
This Corrigendum to the Letter of Offer and the Pre-Offer Public Announcement is to be read in conjunction with the: a) Public Announcement dated Tuesday, February 18, 2025 ('Public Announcement'), (b) Detailed Public Stat response to the season in the Pre-Offer Recommendation of the Pre-Offer Recommendation and Mull ndia Edition). Jansata Public State ment of the Target Company in the Per-Offer Advertisement and Corrigendum to the Detailed to as 'Offer Documents') issued by the Manager on behalf of the Acquirer.
This Corrigendum to the Letter of Offer and the Pre-Offer Public Announcement is intended to update the disclosure regarding non-compliances with various provisions of SEBI (SAST) Regulations. In this regards, Paragraph 6. of which are encapsulated as under:' stands modified and shall be read as follows:
| l Sr. No. |
Regulation/ Sub- Regulation of SEBI (SAST) |
Names of the Promoter and members of the Promoter Group |
Due Date for Compliance as mentioned in the regulation |
Actual date of Compliance Actual date of Compliance with BSE Limited (Covering Letter) |
with BSE Limited (Email Acknowledgement) |
Actual date of Compliance with BSE Limited's Website |
Delay, if any (in no. of days) |
Status of Compliance with of SEBI (SAST) Takeover Regulations |
Remarks | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A. Regulation 30(1) and 30(2) of SEBI (SAST) Regulations | ||||||||||||||
| Shreeniwas Somani | Wednesday, April 12, 2017 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the acknowledgement of the mail and the disclosure |
|||||||
| Regulation $30(1)$ and $30(2)$ | Citric India Limited | Wednesday, April 12, 2017 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
||||||
| Shreeniwas Somani | Tuesday, April 10, 2018 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the acknowledgement of the mail and the disclosure |
|||||||
| 2. | Regulation $30(1)$ and $30(2)$ | Citric India Limited | Tuesday, April 10, 2018 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
|||||
| 3. | Shreeniwas Somani | Tuesday, April 9, 2019 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the acknowledgement of the mail and the disclosure |
||||||
| Regulation $30(1)$ and $30(2)$ | Citric India Limited | Tuesday, April 9, 2019 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
||||||
| Shreeniwas Somani | Monday, June 1, 2020 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the acknowledgement of the mail and the disclosure |
|||||||
| Regulation $30(1)$ and $30(2)$ | Citric India Limited | Monday, June 1, 2020 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
||||||
| Regulation 30(1) and 30(2) | Shanta Somani | Monday, April 12, 2021 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the acknowledgement of the mail and the disclosure |
||||||
| Citric India Limited | Monday, April 12, 2021 |
No Information has been made available |
No Information has been made available |
Filed | Not Applicable | Not Complied | copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
|||||||
| Monday, | No Information has been | No Information has been | B. Regulation 31(4) of the SEBI (SAST) Regulations | |||||||||||
| Shreeniwas Somani | June 1, 2020 | made available | made available | Not Filed | Not Applicable | Not Complied | NOT COMPLIED | |||||||
| 6. | Regulation 31(4) | Citric India Limited | Monday, June 1, 2020 |
No Information has been made available |
No Information has been made available |
Monday, 3 April 2023 | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the disclosure copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
|||||
| Shanta Somani | Monday, April 12, 2021 |
No Information has been made available |
Monday, 3 April 2023 |
Monday, 3 April 2023 | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the disclosure copy made to BSE and the Target |
|||||||
| Regulation 31(4) | Citric India Limited | Monday, April 12, 2021 |
No Information has been made available |
Monday, 3 April 2023 |
Monday, 3 April 2023 | Not Applicable | Not Complied | Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
||||||
| 8. | Regulation 31(4) | Shanta Somani | Monday, April 11, 2022 |
No Information has been made available |
Monday, 3 April 2023 |
Monday, 3 April 2023 | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the disclosure copy made to BSE and the Target |
|||||
| Citric India Limited | Monday, April 11, 2022 Thursday, |
No Information has been made available No Information has been |
Monday, 3 April 2023 Monday, |
Monday, 3 April 2023 | Not Applicable | Not Complied | Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) |
|||||||
| 9. | Regulation 31(4) | Shanta Somani | April 13, 2023 Thursday, |
made available No Information has been |
3 April 2023 Monday, |
Monday, 3 April 2023 Monday, 3 April 2023 |
Not Applicable | Not Complied | Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the disclosure copy made to BSE and the Target Company has not been made available and hence we hereby submit that the compliance requirements |
|||||
| Citric India Limited | April 13, 2023 | made available | 3 April 2023 | Not Applicable | Not Complied | have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. | ||||||||
| 10. | Regulation 31(4) | Shanta Somani | Wednesday, No Information has been April 10, 2024 made available |
No Information has been Tuesday, 2 April 2024 made available |
Not Applicable Not Complied |
NOT COMPILED: As per the information accessible under Regulation 30(1) and 30 (2) of SEBI (SAST) Regulations, on the BSE website, it is noted that the disclosure requirements have been made by the Promoters of the Target Company. However, since the disclosure copy made to BSE and the Target |
||||||||
| Names of the | Citric India Limited Number of |
Wednesday, April 10, 2024 |
No Information has been made available |
No Information has been made available |
Tuesday, 2 April 2024 | Not Applicable | Not Complied Status of |
Company has not been made available and hence we hereby submit that the compliance requirements have not been fully met in accordance with Chapter V of SEBI (SAST) Regulations. |
||||||
| ∣Sr No. |
Regulation/ Sub-Regulation of SEBI (SAST) |
Promoter and members of the Promoter Group |
Equity Shares acquired/ disposed |
Percentage of Equity Holding |
Mode of Transaction | Date of Transaction |
Due Date for Compliance as mentioned in the regulation |
Actual date of Compliance with BSE Limited |
Delay, if any (in no. of days) |
Compliance with of SEBI (SAST) Takeover Regulations |
Remarks | |||
| C. Regulation 29 of SEBI (SAST) Takeover Regulations | ||||||||||||||
| 11. | Regulation 29(2) |
Shanta Somani |
48,781 | 3.25% | Promoter Shareholders in this regard. | Based on the information available on the BSE website, the said transaction pertains to the transmission of shares. However, we wish to inform you that no details or disclosures have been provided by the Target Company or the Selling |
Monday, 4 January 2021 |
Wednesday, 6 January 2021 |
Tuesday, 5 January 2021 |
Not Applicable |
Not Complied |
As per the information available on the BSE website, the said disclosure appears to comply with the provisions of Regulation 29 (2) of the SEBI (SAST) Regulations. However, we wish to bring to your attention that no details or disclosures have been provided by the Target Company or the Selling Promoter Shareholders in this regard. Therefore, we consider this as non-compliance with the provisions of the said regulation. |
||
| 12. | Regulation Shreeniwas Somani 29(2) |
(48, 781) | $-3.25%$ | Based on the information available on the BSE website, the said transaction pertains to the transmission of shares. However, we wish to inform you that no details or disclosures have been provided by the Target Company or the Selling Promoter Shareholders in this regard. |
Monday, 4 January 2021 |
Wednesday, 6 January 2021 |
Tuesday, 5 January 2021 |
Not Applicable |
Not Complied |
As per the information available on the BSE website, the said disclosure appears to comply with the provisions of Regulation 29 (2) of the SEBI (SAST) Regulations. However, we wish to bring to your attention that no details or disclosures have been provided by the Target Company or the Selling Promoter Shareholders in this regard. Therefore, we consider this as non-compliance with the provisions of the said regulation. |
||||
| We would like to inform you that, the Selling Promoter Shareholders of the Target Company have not provided the Demat Transaction Statements. The aforementioned information has been obtained from the public domain, specifi |
| l Sr. | Regulation/ Sub- No. Regulation of SEBI (SAST) |
Names of the Promoter and members of the Promoter Group |
as mentioned in the regulation |
with BSE Limited (Covering Letter) |
with BSE Limited (Email Acknowledgement) |
Due Date for Compliance Actual date of Compliance Actual date of Compliance Actual date of Compliance with BSE Limited's Website |
Delay, if any (in no. of days) |
Status of Compliance with of SEBI (SAST) Takeover Regulations |
Remarks | |
|---|---|---|---|---|---|---|---|---|---|---|
| D. Regulation 10 (6) of SEBI (SAST) Takeover Regulations | ||||||||||
| Shreeniwas Somani | Wednesday, January 06, 2021 |
No Information has been made available |
No Information has been made available |
Not Filed | Not Applicable | Not Complied | NOT COMPILED: As per the information accessible on the BSE website, it is noted that the disclosur requirements have not been made by the Promoters of the Target Company. Since the acknowledgemer |
|||
| Regulation 10 (6) | Shanta Somani | Wednesdav. January 06, 2021 |
No Information has been made available |
No Information has been made available |
Not Filed | Not Applicable | Not Complied | of the mail and the disclosure copy made to BSE and the Target Company has not been made availabl and hence we hereby submit that the compliance requirements have not been fully met in accordang with Chapter V of SEBI (SAST) Regulations. |
||
| We would like to inform you that the Colling Dramater Charabolder of the Target Company has not filed displacing under Dequistion 10 (6) of CEDI (CACT) Dequisions |
We would like to inform you that, the Selling Promoter Shareholder of the Target Company has not filed disclosure under Regulation 10 (6) of SEBI (SAST) Regula
*We would like to inform that Mr. Shreeniwas Somani deceased on Tuesday, 10 November, 2020 and the Transmission of shares took place on January 04, 2021 as per the information available on BSE website. Since the Promoter S Non-compliant.
Public Shareholders are requested to note that, except as stated hereinafter, there have been no material changes in relation to the Offer, other than those already disclosed in the Letter of Offer:
Please note that a copy of the Letter of Offer is also available and accessible on the websites of SEBI at www.sebi.gov.in, the Target Company at www.thechermopharmalaboratoriesltd.com, the Registrar to the Offer at www.in can download/print the same.
Revised Schedule of Activities
| Schedule of Activities | Tentative ScheduleDay and Date | ACTUAL SCHEDULEDAY AND DATE(UPON RECEIPT OF SEBI'S OBSERVATION LETTER) |
|---|---|---|
| Date of commencement of Tendering Period | Fridav. April 11, 2025 | THURSDAY. MAY 22. 2025 |
| Date of closing of Tendering Period | Monday, April 28, 2025 | WEDNESDAY, JUNE 04, 2025 |
| Last date of communicating the rejection/ acceptance and completion of payment of consideration or refund of Equity Shares to the Public Shareholders (1) | Tuesday, May 13, 2025 | WEDNESDAY, JUNE 18, 2025 |
| Last date for publication of post-Open Offer public announcement in the Newspapers (1) | Tuesday, May 20, 2025 | WEDNESDAY, JUNE 25, 2025 |
| Last date for filing the post Offer report with SEBI(1) | Tuesday, May 20, 2025 | WEDNESDAY. JUNE 25. 2025 |
Note
(1) These actions set out above may be completed prior to their corresponding dates subject to compliance with the SEBI (SAST) Regulations.
C. Documents for Inspection
The copies of the documents listed under Paragraph 11 titled as 'Documents for Inspection' on page 59 of the Letter of Offer will be available for inspection at the principal place of business of the Manager to the Offer, on any working day between 10:00 a.m. (Indian Standard Time) and 5:00 p.m. (Indian Standard Time) and 5:00 p.m. (Indian Standard Time) during the Tendering Period commencing from Thursday, May 22, 2025, to Wednesday, June copies of the following documents will be available for inspection to the Public Shareholders electronically during the Tendering Period. The Public Shareholders interested to inspect any of the following documents can sen a subject line ["Documents for Inspection - CHEMOPH Open Offer"], to the Manager to the Open Offer at [email protected]; and upon receipt and processing of the received request, access can be provided to the respec
The Acquirer accept full responsibility for the information contained in this Corrigendum to the Letter of Offer and the Pre-Offer Public Announcement (other than such information as has been obtained from public sources o (SAST) Regulations in respect of this Open Offer. The Acquirer will be responsible for ensuring compliance with the SEBI (SAST) Regulations. The persons signing this Corrigendum to the Letter of Offer and the Pre-Offer Pub
This Corrigendum to the Letter of Offer and the Pre-Offer Public Announcement will also be accessible on the websites of SEBI at www.sebi.gov.in, the Target Company at www.thechemopharmalaboratoriesltd.com the Registrar to
Issued by the Manager to the Open Offer on Behalf of Acquirer
Swaraj Shares and Securities Private Limited Unit No 304, A Wing, 215 Atrium, Near Courtyard Marriot, Andheri East, Mumbai - 400093, Maharashtra, India Telephone Number: +91-22-69649999 Email Address: [email protected] Investors Grievance Email Address: [email protected] Website: www.swarajshares.com Contact Person: Mr. Tanmoy Banerjee/Ms. Pankita Patel SEBI Registration Number: INM00012980 Validity: Permanent
Date: Tuesday, May 27, 2025 Place: Mumbai
For and on behalf of M/s Atibha Agriseeds Private Limited Sd Mr. Ruchit Prafulkumar Mehta (Director)