BSECompany Update23 Jun 2026 · 23 Jun 2026, 02:12 pm
Navigant Corporate Advisors Limited ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of Midland Polymers Ltd ("the Company").
Midland Polymers Ltd · 531597
✦ AI SummaryM&A
Midland Polymers Ltd announced the post-offer advertisement for its open offer, revealing that only 1,765 equity shares (0.005%) were tendered and accepted out of the 9,750,000 shares (26.00%) sought by the acquirers at Rs. 10 per share. Despite the open offer's minimal success, the acquirers successfully completed a preferential allotment for 25,931,240 shares, resulting in their collective post-offer shareholding being 69.15% of the expanded equity. Public shareholding now stands at 30.85% of the expanded capital.
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Earnings Impact5/10
Growth Catalyst6/10
Governance Concern3/10
Regulatory Risk1/10
Balance Sheet Risk3/10
Liquidity Impact4/10
Market Sentiment6/10
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Full Announcement
Midland Polymers Ltd - 531597 - Post Offer Advertisement
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AA 4
Navigant
NAVIGANT CORPORATE ADVISORS LIMITED
Regd. Office: 804, Meadows, Bonanza, Sahar Plaza Complex,J B Nagar, Andheri-Kurla Road,
Andheri (East) Mumbai-400 059; Tel: +91-22- 4120 4837 / +91 22 4973 5078
Email: navigant@navigantcorp.com; Website:www.navigantcorp.com (CIN: L67190MH2012PLC231304)
Date: 23.06.2026
The Manager
Dept. of Corporate Services
BSE Limited,
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort
Mumbai - 400 001
Sub: Submission of Post Offer Advertisement in terms of Regulation 18(12) of SEBI SAST
(Regulations), 2011 of of Midland Polymers Limited (BSE Code: 531597)
Ref.: Open Offer to acquire upto 97,50,000 equity shares of Rs. 10/- each at a price of Rs. 10/- per
fully paid-up equity share of Midland Polymers Limited (“Target Company”) representing
26.00% of the expanded equity and voting share capital by Gayathri Boreddy (Acquirer-1).
Jagannath Edla (Acquirer-2), Radha Krishna Avudari (Acquirer-3), Mahammad Amaan Shaik
(Acquirer-4) and Ravi Kiran Veeramalla (Acquirer-5) (Acquirer-1, Acquirer-2, Acquirer-3
Acquirer-4 and Acquirer-5 hereinafter collectively referred to as the "Acquirers”)
Dear Sir,
This is with reference to the above please find the Post Offer Advertisement in terms of Regulation
18(12) of SEBI SAST (Regulations), 2011 hard and soft copy being issued by us on behalf of captioned
Acquirers with regard to open offer for acquisition of Equity Shares of Midland Polymers Limited (“Target
Company”) by Acquirers which was published on 23" June, 2026 in Financial Express - English Daily (all
editions); Jansatta - Hindi Daily (all editions); Pratahkal - Marathi Daily (Mumbai edition); Mega Jyothi -
Telugu Daily - (Telangana edition).
We certify that the contents of the PDF format in soft copy are identical with the hard copy of Post Offer
Advertisement
Thanks & Regards,
For Navigant Corporate Advisors Limited
Sarthak Vijlani
Managing Director
POST OFFER ADVERTISEMENT TO THE EQUITY SHAREHOLDERS OF
MIDLAND POLYMERS LIMITED
(“MPL”/ “TARGET COMPANY”/ “TC”) (Corporate Identification No. L62013TS1992PLC178971)
Registered Office: Plot.No.8-2-603/23/3 & 8-2-603/23, 15, 2nd Floor, HSR Summit, Banjara Hills,
Road No. 10, Hyderabad, Telangana, 500034;
Phone No.: +91-8125730447; Email id: midland.polymers@gmail.com; Website: www.midlandpolymers.com
Open offer for acquisition of 97,50,000 Equity Shares of Rs. 10/- each representing 26.00% of the expanded equity and voting
share capital of the Target Company by Gayathri Boreddy (Acquirer-1), Jagannath Edla (Acquirer-2), Radha Krishna Avudari
(Acquirer-3), Mahammad Amaan Shaik (Acquirer-4) and Ravi Kiran Veeramalla (Acquirer-5) (Acquirer-1, Acquirer-2, Acquirer-3,
Acquirer-4 and Acquirer-5 hereinafter collectively referred to as the "Acquirers").
This Post offer Advertisement is being issued by Navigant Corporate Advisors Limited, The Manager to the offer, on behalf of the
Acquirers, in connection with the offer made by the Acquirers in compliance with regulation 18(12) of the Securities and Exchange
Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011 and subsequent amendments thereto (“SEBI
(SAST) Regulation, 2011”).
The Detailed Public Statement (“DPS”) pursuant to the Public Announcement (“PA”) made by the Acquirers have appeared in
Financial Express - English Daily (all editions); Jansatta - Hindi Daily (all editions); Pratahkal - Marathi Daily (Mumbai edition);
Mega Jyothi - Telugu Daily – (Telangana edition) on 07th April, 2026.
1. Name of the Target Company : Midland Polymers Limited
2. Name of the Acquirers : Gayathri Boreddy (Acquirer-1);
Jagannath Edla (Acquirer-2);
Radha Krishna Avudari (Acquirer-3);
Mahammad Amaan Shaik (Acquirer-4); and
Ravi Kiran Veeramalla (Acquirer-5)
3. Name of the Manager to the offer : Navigant Corporate Advisors Limited
4. Name of the Register to the officer : Purva Sharegistry (India) Pvt. Ltd
5. Offer details
a) Date of Opening of the Offer : Wednesday, 03rd June, 2026
b) Date of the Closing of the offer : Tuesday, 16th June, 2026
6. Date of Payment of Consideration (Actual): 22nd June, 2026
7. Details of the Acquisition :
Sr Proposed in the
Particula rs Actual
No. Offer Document
7.1. O ffer Price Rs. 10per Equity Share Rs. 10per Equity Share
7.2. Aggregate number of Shares tendered 97,50,000 1,765
7.3. Aggregate number of Shares accepted 97,50,000 1,765
Size of the offer
7.4. Rs. 9,75,00,000 Rs. 17,650
(Numbers of sha res mul tiplied by Offer price pershare)
Shareholding of the Acquirers before preferential issueand Nil Nil
7.5.
Public Announcement (No.& %) (0.00%)** (0.00%)**
Shares to be acquired by way of Preferential Allotment
7.6. (cid:63)Number 2,59,31,240 2,59,31,240
(cid:63)% Fully Diluted Equity Share Capital (69.15%)** (69.15%)**
Shares Acquired by way of Open offer
7.7. (cid:63)Number 97,50,000 1,765
(cid:63)% Fully Diluted Equity Share C apital (26.00%)** (0.005%)**
Shares Acquired after detailed Public Statement
(cid:63)Number of Shares acquired
7.8.
(cid:63)Price of the share s acquired Not Applicable Not Applicable
(cid:63)% of the shares acquired
Postoffer Shareholding of Acquirers
7.9. (cid:63)Number 3,56,81,240 2,59,33,005
(cid:63)% Fully Diluted Equity Share Capital (95.15%)** (69.15%)**
Pre and Post Offer Shareholding of Public Shareholders Pre-Offer Post Offer Pre-Offer Post offer
(cid:63)Number 6,30,910 18,18,760 6,30,910 1,15,66,995
(cid:63)% Fully Diluted Equity Share Capital (94.34%)* (4.85%)** (94.34%)* (30.85%)**
*Computed as a %age of pre preferential equity and voting share capital of MPL which was 66,87,600 consisting of 6,68,760
equity shares of face value of Rs. 10 each.
**Computed as a %age of Expanded Equity & Voting Share Capital which consists of 3,75,00,000 fully paid -up equity shares of
the face value of Rs. 10/- each of the Target Company considering the capital post allotment of 2,38,31,240 equity shares and also
inclusive of 1,10,00,000 warrants convertible into equity shares to Acquirers and others on preferential basis.
8. As of the date of this Report, no allotment has been made pursuant to the preferential issue approved by the Board of
Directors at its meeting held on 27th March 2026 and subsequently approved by the members on 25th April 2026. The shares
proposed to be allotted under the preferential issue were neither tendered nor accepted in the open offer, as the in-principle
approval from BSE Limited is still pending.
9. The Acquirers accept full responsibility for the information contained in this Post Offer Advertisement and also for the
fulfillment of his obligations as laid down by SEBI (SAST) Regulations, 2011.
10. A copy of this Post Offer Advertisement will be available on the website of SEBI.
11. Capitalized terms used in this advertisement and not define herein, shall have same meaning assigned to them in the Letter of
Offer dated 20.05.2026.
ISSUED BY MANAGER TO THE OFFER FOR AND ON BEHALF OF THE ACQUIRERS
NAVIGANT CORPORATE ADVISORS LIMITED
804, Meadows, Sahar Plaza Complex, J B Nagar, Andheri Kurla Road, Andheri East, Mumbai - 400059.
Tel No. +91 22 4120 4837 / 4973 5078
Email id: navigant@navigantcorp.com
Website: www.navigantcorp.com
SEBI Registration No: INM000012243
Contact person: Mr. Sarthak Vijlani
Place: Mumbai
Date: June 22, 2026