BSECompany Update25 Aug 2026 · 25 Aug 2026, 11:21 am
Credora Partners Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of ACI Infocom Ltd ("Target Company").
ACI Infocom Ltd · 517356
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Credora Partners Pvt Ltd has submitted a Draft Letter of Offer to the BSE for ACI Infocom Ltd, proposing an open offer to acquire up to 26% of the company's emerging voting share capital at ₹1.53 per share.
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Earnings Impact2/10
Growth Catalyst3/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment5/10
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ACI Infocom Ltd - 517356 - Draft Letter of Offer
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Date: August 24, 2026
The Manager
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal St, Kala Ghoda, Fort,
Mumbai Maharashtra 400001
Subject: Draft Letter of Offer to the shareholders of ACI Infocom Limited (“ACI-INFO”
or “TC” or “Target Company”) in terms of Regulation 3(1) and Regulation 4 of Securities
and Exchange Board of India (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011.
Dear Sir/Madam,
We, Credora Partners Private Limited (hereinafter referred to as “Manager to the Offer”), are
hereby submitting the Draft Letter Of Offer made by us on behalf of Mr. Sanjay Natvarlal
Mandavia and Ms. Rupal Sanjay Mandavia (hereinafter collectively referred as “Acquirers”) to
acquire upto 3,70,47,634 (Three Crores Seventy Lakhs Forty Seven Thousand Six Hundred
Thirty Four) Equity Shares constituting 26.00% of the Emerging Voting Share Capital (As
defined in the Public Announcement and Detailed Public Statement) of the Target Company
at a price of ₹ 1.53/- (Rupees One And Fifty Three Paise Only) for each equity share of the
Target Company, pursuant to, and in compliance with, amongst others, Regulation 3(1) and
Regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares
and Takeovers) Regulations, 2011 and subsequent amendments thereto.
Kindly take the above information on your records.
For Credora Partners Private Limited
Prashant Pratap Singh
Director
DRAFT LETTER OF OFFER
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
This Draft Letter of Offer (“DLOF”) is being sent to you as a Public Shareholder (as defined below) of ACI Infocom
Limited (“Target Company”). If you require any clarifications about the action to be taken, you may consult your
stockbroker or investment consultant or the Manager to the Offer (as defined below) / Registrar to the Offer (as defined
below). In case you have recently sold your Equity Shares of the Target Company, please hand over this Draft Letter
of Offer and the accompanying Form of Acceptance-cum-Acknowledgement to the purchaser of the Equity Shares or
to the member of the Stock Exchange through whom the said sale was effected.
OPEN OFFER (“OFFER”) BY
MR. SANJAY NATVARLAL MANDAVIA (“ACQUIRER-1”)
Residing at: A-3, 1101, World Spa East, Near FWSTS Building, Sector-30, Gurgaon, Haryana – 122001
Tel. No.: +91 9987832155 | Email: saanjaymandavia@gmail.com
MS. RUPAL SANJAY MANDAVIA (“ACQUIRER-2”)
Residing at: A-3, 1101, World Spa East, Near FWSTS Building, Sector-30, Gurgaon, Haryana – 122001
Tel. No.: +91 9619196529 | Email: R.mandavia73@gmail.com
OPEN OFFER FOR ACQUISITION OF UPTO 3,70,47,634 (THREE CRORES SEVENTY LAKHS FORTY
SEVEN THOUSAND SIX HUNDRED THIRTY FOUR) FULLY PAID-UP EQUITY SHARES OF FACE
VALUE OF ₹1/- (RUPEE ONE ONLY) EACH, REPRESENTING 26.00% (TWENTY SIX PERCENT) OF
THE EMERGING VOTING SHARE CAPITAL (AS DEFINED BELOW) OF ACI INFOCOM LIMITED
(HEREINAFTER REFERRED TO AS "TARGET" OR “TARGET COMPANY” OR “ACI INFO”) FROM
PUBLIC SHAREHOLDERS (AS DEFINED BELOW) AT AN OFFER PRICE OF ₹1.53/- (RUPEES ONE
AND FIFTY THREE PAISE ONLY), PAYABLE IN CASH, BY MR. SANJAY NATVARLAL MANDAVIA
(“ACQUIRER-1”) AND MS. RUPAL SANJAY MANDAVIA (‘ACQUIRER-2’), (HEREINAFTER
COLLECTIVELY REFERRED TO AS ‘ACQUIRER’ OR ‘ACQUIRERS’) PURSUANT TO AND IN
ACCORDANCE WITH REGULATION 3(1) AND REGULATION 4 OF THE SECURITIES AND
EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS)
REGULATIONS, 2011, AS AMENDED (“SEBI (SAST) REGULATIONS”) (“OFFER” OR “OPEN OFFER”).
FOR THE PUBLIC SHAREHOLDERS OF
ACI INFOCOM LIMITED (“TARGET COMPANY”)
CIN: L72200MH1982PLC175476
Registered Office: Office No. 512, 5th Floor, Hubtown Solaris, N.S. Phadke Road, Saiwadi, Near Flyover Bridge,
Andheri (East), Mumbai – 400069, Maharashtra, India
Tel. No.: +91-75038 54646 | Email: compliance@acirealty.co.in | Website: www.acirealty.co.in
1. This Offer is being made by the Acquirers pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations,
2011 and subsequent amendments thereto for substantial acquisition of shares/ voting rights accompanied with
change in control and management of the Target Company.
2. This Offer is not a conditional offer in terms of Regulation 19(1) of the SEBI (SAST) Regulations and is not
subject to any minimum level of acceptance.
3. This Offer is not a competing offer in terms of Regulation 20 of the SEBI (SAST) Regulations. There has been
no competing offer as on the date of this Draft Letter of Offer.
4. The details of statutory and other approvals required as on the date of this Draft Letter of Offer is given in para
9.4 (Statutory and other Approvals) of this Draft Letter of Offer.
5. This Offer is not pursuant to any global acquisition resulting in an indirect acquisition of Equity Shares of, or
voting rights in, or control over, the Target Company.
6. The Offer Price and/ or the Offer Size may be subject to upward revision, if any, pursuant to the provisions of
Regulation 18(4) of the SEBI (SAST) Regulations, at any time prior to commencement of the last 1(One)
Working Day prior to the Tendering Period, i.e., Wednesday, September 30, 2026, and the same would also be
informed by way of a public announcement in the same newspapers where the original Detailed Public Statement
has appeared. Where the Acquirers have acquired any Equity Shares during the Offer Period at a price higher
than the Offer Price, the Offer Price shall stand revised to the highest price paid for such acquisition in accordance
with the provisions of Regulation 8(8) of the SEBI (SAST) Regulations. However, the Acquirers shall not
acquire any Equity Shares after the 3rd Working Day prior to the commencement of the Tendering Period, and
until the expiry of the Tendering Period. In the event of such revision, the Acquirers shall: (i) make corresponding
increase to the Escrow Amount; (ii) make a public announcement in the same newspapers in which the Detailed
Public Statement was published; and (iii) simultaneously with the issue of such public announcement, inform
SEBI, BSE Limited Stock Exchange, and the Target Company at its registered office of such revision. Such
revision would be done in compliance with the requirements prescribed under the SEBI (SAST) Regulations and
the revised Offer Price would be payable for all the Equity Shares validly tendered during the Tendering Period
of the Open Offer.
ACI INFOCOM LIMITED
OPEN OFFER | DRAFT LETTER OF OFFER 1
7. The Acquirers shall complete all procedures relating to this Open Offer within 10 (Ten) Working Days (as
defined below) from the date of closure of the Tendering Period (as defined below), including payment of
consideration to those Public Shareholders whose share certificates and/or other documents are found valid and
in order and are accepted for acquisition by the Acquirers.
8. In the event that the number of Equity Shares validly tendered by the Public Shareholders under this Open Offer
is more than the number of Offer Shares (as defined below), the Acquirers shall accept those Equity Shares
validly tendered by the Public Shareholders on a proportionate basis in consultation with the Manager to the
Offer , subject to a maximum of 3,70,47,634 (Three Crores Seventy Lakhs Forty Seven Thousand Six
Hundred Thirty Four) fully paid up Equity Shares ("Offer Shares") representing 26.00% (Twenty Six per
cent) of the emerging voting share capital, provided that acquisition of Equity Shares from a Public Shareholder
shall not be less than the minimum marketable lot, or the entire holding if it is less than the marketable lot. The
minimum marketable lot for the Equity Shares for the purpose of this Offer shall be 1 (one) Equity Share.
9. In the event of withdrawal of the Open Offer in terms of Regulation 23(1) of the SEBI (SAST) Regulations,
2011, the Acquirers (through the Manager to the Offer) shall, within 2 (Two) Working Days of such withdrawal,
make a public announcement of such withdrawal, in the same Newspapers in which the Detailed Public
State
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