Intimation of the Constitution of a committee of Independent Directors for Open Offer
Price
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Chambal Breweries & Distilleries Ltd has formed a Committee of Independent Directors, comprising Mr. Anmol Jindal and Mr. Rinku Goyal, to give recommendations on an Open Offer made by M/s. Invade Agro Limited (acting through its MD, Mrs. Meenal Shrirang Patwardhan). The Open Offer is for the acquisition of 19,47,077 fully paid-up equity shares of Rs. 10 each from existing shareholders. This is being done under SEBI Takeover Regulations, 2011 (Regulation 4) and SEBI Listing Regulations, 2015 (Regulation 31A(5)). The acquirer is required to make a public offer to shareholders as part of a change in control transaction.
Shareholders should wait for the independent directors' detailed recommendation note, which will include a fair price analysis and guidance on whether to tender shares in the Open Offer. Expect short-term volatility in the stock price as the offer price and tendering activity influence trading.