Independent Directors Committee (IDC) have submitted to BSE recommendations under Regulation 26(7) of SEBI (SAST) Regulations, 2011, for the Open Offer to Public Shareholders of CMX Holdings ....
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The Independent Directors Committee (IDC) of CMX Holdings Ltd has submitted its recommendations on the Open Offer made by acquirer Mr. Amay Vatsalya under SEBI (SAST) Regulations, 2011. The offer is for up to 29,49,500 fully paid-up equity shares representing 26% of the voting share capital at a price of ₹9.70 per equity share. The IDC reviewed the Public Announcement (June 24, 2025), Detailed Public Statement (July 01, 2025), and Letter of Offer (September 18, 2025), and unanimously concluded that the open offer is fair and reasonable. The recommendations were published in Business Standard (English & Hindi), Navshakti (Marathi), and Indore Samachar on September 24, 2025. Shareholders have been advised to independently evaluate the offer and make informed decisions.
For public shareholders of CMX Holdings, this filing provides the IDC's official view that the ₹9.70 per share offer price is fair and reasonable. The acquirer is seeking a significant 26% stake, signalling a change in control/promoter transition which may affect stock price dynamics and shareholder decision-making.