Small-cap stock under ₹100 Banganga Paper Industries share price is in focus after it announced a mandatory open offer to acquire 3,47,88,000 equity shares, representing 100% of the company’s existing public shareholding, at an offer price of ₹1.45 per share.
“This open offer is being made for acquisition of 3,47,88,000 fully paid-up equity shares, representing 100% of the existing public shareholding of the target company, at an offer price of ₹1.45 per share,” Navigant Corporate Advisors, manager to the offer, said.
Since 26% of the expanded equity and voting share capital exceeds the existing public shareholding, the offer size has been fixed at 100% of the public float. Assuming full acceptance, the total consideration payable under the open offer would be ₹5.04 crore, to be paid entirely in cash.
Stake buying in brewery company
The open offer has been triggered after the board approved a preferential allotment of 10,06,29,680 equity shares, representing 30.42% of the emerging equity capital, to the acquirers, largely in exchange for equity shares of CMJ Breweries Private Limited at ₹1.45 per share.
In a separate exchange filing dated December 17, Banganga Paper Industries said its board approved a series of strategic and corporate actions linked to the proposed change in control. The company cleared an increase in authorised share capital to ₹36 crore from ₹12 crore, subject to shareholder approval, and approved the acquisition of 78.90% equity stake in CMJ Breweries Private Limited through a share swap arrangement.
The board also approved multiple preferential issuances, including up to 15,10,64,917 equity shares at ₹1.45 per share for consideration other than cash, 6,00,00,000 equity shares for cash at the same price, and 2,20,00,000 convertible warrants. In addition, the board approved a proposal to change the company’s name to Asgard Alcobev Limited, raise borrowing and investment limits to ₹500 crore, sell its 99.96% stake in Banganga Paper Mills Limited for ₹11.21 crore, and shift the registered office from Nashik, Maharashtra, to Shillong, Meghalaya.
An extraordinary general meeting has been scheduled for January 14, 2026, to seek shareholder approvals.
Banganga Paper Industries share price trend
The small-cap stock has lost 28% in last 1 year and 27% in past 6 months. However, recently, it has given positive returns, rising almost 9% in last 3 months and 10% in past 1 month.
Currently at ₹54.41, the stock is 50% away from its 52-week high of ₹90.27, hit in March 2025. Meanwhile, it hit its 52-week low of ₹38 in November 2025.
Its current market capitalisation stands at ₹651.05 crore.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
