Roadway Solutions to Acquire 100% Stake in Soma Textiles Through ₹88 Cr Deal and ₹39 Cr Open Offer
By Shishta Dutta | Published at: Jul 10, 2025 11:37 AM IST
Mumbai, July 10, 2025 – Soma Textiles & Industries Ltd (NSE: SOMATEX, BSE: 521034) witnessed a sharp 20% surge in its stock price to ₹53.89 on Wednesday following a major acquisition announcement. Roadway Solutions India Infra Limited, along with Ameet Harjinder Gadhoke and Teja Ranade Gadhoke as Persons Acting in Concert (PACs), has initiated a full acquisition of the company under SEBI (SAST) Regulations, 2011.
The acquirers initiated a buyout of the Soma Textiles promoters, who were holding 2.48 crore equity shares (totalling 74.98% voting rights), which triggered a mandatory open offer for the remaining 82.65 lakh equity shares (totalling 25.02% voting rights).
As of 11:15 PM, Soma Textiles’ shares were trading at ₹53.89, representing a striking 20.00% increase.
Transaction Highlights
In a definitive Share Purchase Agreement (SPA) dated July 9, 2025, the acquirers agreed to acquire 2,47,68,058 equity shares (representing 74.98% of Soma Textiles’ voting share capital) from the promoter group for a total cash consideration of ₹87.67 crore.
This transaction triggered a mandatory Open Offer to acquire an additional 25.02% stake, equivalent to 82,64,942 equity shares, from public shareholders at an offer price of ₹47.14 per share. The aggregate value of the open offer stands at approximately ₹38.96 crore.
Summary of Shareholding Structure
|
Category |
No. of Shares |
% Shareholding Post Transaction |
|---|---|---|
|
Roadway Solutions (Acquirer) |
2,51,11,772 |
76.02% |
|
Ameet Harjinder Gadhoke |
59,45,940 |
18.00% |
|
Teja Ranade Gadhoke |
19,75,288 |
5.98% |
|
Total (Post Offer) |
3,30,33,000 |
100.00% |
Offer Details
|
Parameter |
Details |
|---|---|
|
Offer Price |
₹47.14 per share |
|
Shares in Offer |
82,64,942 equity shares |
|
% of Voting Capital |
25.02% |
|
Offer Size |
₹38.96 crore |
|
Mode of Payment |
Cash |
|
Triggering Regulation |
SEBI (SAST) Regulations 3(1) and 4 |
|
Manager to Offer |
Mefcom Capital Markets Ltd |
|
SPA Consideration |
₹87.67 crore for 74.98% stake |
Exit of Promoter Group
The Somany family and Sarvopari Investments Pvt Ltd, previously holding a 74.98% stake, have completely exited the company post-transaction.
|
Seller |
Pre-transaction Holding |
Post-transaction |
|---|---|---|
|
Sarvopari Investments Pvt Ltd |
1,65,12,996 (49.99%) |
Nil |
|
Surendra Kumar Somany |
36,65,735 (11.10%) |
Nil |
|
Arvind Kumar Somany |
23,28,217 (7.05%) |
Nil |
|
Surendra Kumar Somany HUF |
14,02,579 (4.25%) |
Nil |
|
Prasann Somany |
7,31,900 (2.22%) |
Nil |
|
Arvind Kumar Somany HUF |
1,26,631 (0.38%) |
Nil |
|
Total |
2,47,68,058 (74.98%) |
Nil |
Outlook
The acquisition and open offer signal a strategic overhaul for Soma Textiles, boosting investor sentiment. The complete promoter exit and full buyout have driven a sharp stock rally, with expectations of operational restructuring and renewed business direction in the near term.
About Soma Textiles & Industries Ltd,
Soma Textiles & Industries Ltd, incorporated in 1940 and listed since August 1996, operates in the “Other Textile Products” segment. Its equity shares are listed on both NSE and BSE under the symbol SOMATEX. The company has a face value of ₹10 and is actively traded with a 52-week high of ₹65.80 (as of Nov 29, 2024) and a low of ₹32.21 (as of Aug 6, 2024).
REF: https://nsearchives.nseindia.com/corporate/SOMATEX_09072025230120_Regulation30_Open_offer.pdf
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