Outcome of the Meeting of Committee of Independent Director for Open Offer
Price
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The Committee of Independent Directors (CID) of Esaar (India) Ltd reviewed the open offer made by Ms. Prabhat Capital Investments Limited to acquire up to 53,15,050 equity shares (26.00% of paid-up capital) at Rs. 8.00 per share, including 10% p.a. interest for delayed payment. The CID considered the Public Announcement dated 14 Feb 2025, Detailed Public Statement dated 24 Feb 2025, and Letter of Offer dated 18 Aug 2025. After review, the CID concluded that the open offer is fair and reasonable for the shareholders.
Shareholders can view the CID's 'fair and reasonable' recommendation as a green light to consider tendering shares in the open offer. However, the offer price of Rs. 8.00 per share is the only consideration, and investors should independently evaluate whether this price adequately reflects the company's value before deciding to tender.