Navigant Corporate Advisors Limited ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors (IDC) on the Open Offer to the Shareholders ....
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Navigant Corporate Advisors, the Manager to the Offer, has submitted to BSE the advertisement of the Committee of Independent Directors (IDC) recommendations on an open offer for Midland Polymers Ltd. The open offer is to acquire up to 97,50,000 equity shares (26% of expanded equity) at Rs. 10 per share from five acquirers — Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla. The IDC advertisement was published on 1st June 2026 in Financial Express, Jansatta, Pratahkal, and Mega Jyothi newspapers. This filing is made under Regulation 26(7) of SEBI SAST Regulations, 2011, and is a procedural step in the takeover process.
This is a routine regulatory disclosure and does not change the offer terms. Shareholders should review the IDC recommendations to understand the independent directors' view on whether the offer price of Rs. 10 is fair before deciding to tender their shares.