Hindustan Agrigenetics Limited
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Awaiting price reaction for this filing.
Hindustan Agrigenetics Limited has informed BSE that its Committee of Independent Directors (IDC) reviewed the Open Offer made by Mr. Rajendra Naniwadekar to acquire up to 11,44,052 equity shares (26% of the voting share capital) at Rs. 54 per share. The IDC concluded that the offer price of Rs. 54 per equity share, computed under SEBI Takeover Regulations, is fair and reasonable. The Public Announcement was made on January 13, 2025, the Detailed Public Statement on January 20, 2025, and the Letter of Offer on August 25, 2025, with Bajaj Capital Securities Limited acting as the Manager to the Offer. Public shareholders are advised to independently evaluate the offer and make their own informed decision on whether to tender.
Shareholders now have an IDC recommendation backing the offer as fair and reasonable, which may give more confidence to tender. However, the IDC itself asks shareholders to independently assess and decide. The offer price of Rs. 54 provides a floor reference for the stock.