IDC recommends open offer at Rs 56.84 per share; market price much higher

The Independent Directors Committee of Lippi Systems submitted its recommendation on the open offer by five individual acquirers (the Dholu family) to buy up to 33,82,231 shares (25.05 percent of expanded capital) at Rs 56.84 per share, totalling about Rs 19.22 crore in cash. The IDC deems the offer price fair and reasonable under SEBI takeover rules, but flags that the BSE closing price of Rs 232.50 on July 13, 2026 is far higher than the offer price. Shareholders are advised to evaluate independently before tendering.