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 Devinsu ....
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The Independent Directors Committee (IDC) of Devinsu Trading Limited has submitted its recommendations on the Open Offer made by Mr. Dennis Desai (Acquirer) to the public shareholders. The Acquirer is offering ₹350.00 per equity share for up to 1,63,800 fully paid-up shares, representing 26.00% of the voting share capital of the company, in terms of SEBI (SAST) Regulations 2011. The IDC reviewed the Public Announcement (July 9, 2025), Detailed Public Statement (July 16, 2025), Corrigendum (September 19, 2025), and Letter of Offer (October 10, 2025). Based on this review, the IDC is of the opinion that the Offer Price of ₹350 per share is in line with SEBI regulations and appears justified, as it exceeds the highest price among the selective criteria. The recommendations were unanimously approved by the IDC members on October 18, 2025.
The IDC's favourable and unanimous recommendation provides comfort to public shareholders that the open offer price is fair and reasonable, though shareholders are still advised to independently evaluate the offer before deciding to tender their shares.