Outcome of Independent Directors Committee ('Committee') Meeting pursuant to the provision of Regulation 26(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ....
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Five individuals (Vinesh Shivji Dholu, Jagdish Shivji Dholu, Shivji Karamshi Dholu, Jagruti Vinesh Dholu, and Parul Jagdish Dholu) have made an open offer to acquire up to 33,82,231 equity shares (25.05% of the expanded share capital) of Lippi Systems Limited at ₹56.84 per share, for a total cash consideration of about ₹19.22 crore, in line with SEBI SAST Regulations. The Committee of Independent Directors reviewed the offer documents and concluded the ₹56.84 price is fair and reasonable as per the regulatory formula. The recommendation was unanimously approved. Importantly, the IDC flagged that the BSE closing market price on July 13, 2026 was ₹232.50 per share, which is far higher than the offered price.
Shareholders should note that the offer price of ₹56.84 is significantly below the recent market price of ₹232.50, meaning tendering shares in this offer could mean selling well below market value. The IDC itself advises shareholders to independently evaluate and check market performance before deciding.