Swaraj Shares and Securities Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of recommendations of the Committee of Independent Directors (''IDC'') of the Kuberan Global ....
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The Independent Directors Committee (IDC) of Kuberan Global Edu Solutions Ltd submitted its recommendations on an open offer to BSE on April 16, 2025. The open offer is by Hathor Corporate Advisors LLP (Acquirer) along with PAC Plutus Capital Management LLP, for acquisition of up to 5,47,700 shares (26.00% of voting capital) from public shareholders at Rs. 18 per share, with total maximum consideration of around Rs. 98.59 lakhs. The open offer was triggered by an earlier Share Purchase Agreement dated October 30, 2024, under which the Acquirer agreed to buy 13,67,657 shares (64.92% of voting capital) from selling promoters at Rs. 17 per share, aggregating to about Rs. 2.33 crores. The IDC recommendations were published in Financial Express, Jansatta, Mumbai Lakshadeep, and Makkal Kural newspapers.
Public shareholders should review the IDC recommendations carefully before deciding whether to tender shares in the open offer. The open offer price of Rs. 18 offers only a modest premium over the negotiated promoter sale price of Rs. 17, which is a key data point for investors evaluating participation in the offer.