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 Sarda Proteins ....
Awaiting price reaction for this filing.
Sarda Proteins Limited has filed with BSE the newspaper publication of its Independent Directors Committee (IDC) recommendations regarding an Open Offer to public shareholders. Onix Renewable Limited (the Acquirer), along with Persons Acting in Concert (PACs), is making an open offer to acquire 17,30,400 equity shares (face value Rs. 10 each), representing 19.28% of the Emerging Voting Share Capital, at an offer price of Rs. 115 per share. The offer is being made under Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a Public Announcement dated March 18, 2026. The IDC recommendations were published on June 8, 2026 in Financial Express, Jansatta, Mumbai Lakshadeep, and Jagruk Times. Grow House Wealth Management Private Limited is acting as the manager to the offer.
Public shareholders now have the IDC's formal recommendation on whether to tender their shares in the open offer. The offer price of Rs. 115 per share gives shareholders a clear exit opportunity at a defined price, and the IDC recommendation will help them decide whether the offer is fair.