IDC finds open offer at Rs 12 fair, but market price is Rs 30.60
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On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 1.6 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Acquirers Sandeep Jain, Vikas Garg, Rahul Nagar along with PAC Neha Agarwal are making an open offer for 56,43,612 shares (26 percent of voting capital) of ICCL at Rs 12 per share under SEBI Takeover Regulations. The Independent Directors Committee has deemed the offer fair and reasonable. However, the BSE closing price on October 21, 2026 was Rs 30.60 per share, much higher than the offer price. Shareholders are advised to evaluate independently before tendering.
Offer price of Rs 12 is well below the market price of Rs 30.60, so tendering may not be financially attractive for shareholders.