In relation to the captioned offer, we are enclosing herewith the copy of Recommendation on the offer given by Committee of Independent Directors, which appeared on Tuesday, September 30, ....
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Antariksh Industries Ltd has submitted the recommendation of its Committee of Independent Directors (IDC) on an ongoing Open Offer to its shareholders. Acquirer Mrs. Gitaben Nitinbhai Patel is offering to buy up to 52,000 equity shares (26% of the voting share capital) at Rs. 96 per share under SEBI's takeover regulations. An independent chartered accountant valued the fair price at Rs. 95.34 per share, making the offer price slightly above the assessed fair value. The IDC noted the shares are infrequently traded on BSE and unanimously recommended the offer as fair and reasonable. Shareholders have been advised to independently evaluate the offer before deciding.
Shareholders can consider tendering their shares at Rs. 96 per share, a modest premium over the Rs. 95.34 fair value; with the IDC's endorsement and infrequent trading on BSE, this open offer window may be the most practical exit route at a fair price.