NACL Industries Limited has informed the Exchange about Copy of Newspaper Publication
NACLIND · price
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NACL Industries Limited has published the recommendations of its Committee of Independent Directors (IDC) on the open offer by Coromandel International Limited to buy up to 5.25 crore equity shares (26% of voting share capital) from public shareholders at Rs. 76.70 per share in cash. The IDC reviewed the offer documents and, based on an independent valuation by M.H.B & Associates, deemed the offer fair and reasonable, noting the offer price is higher than the 60-day VWAMP of Rs. 65.30. However, the IDC has highlighted a critical point: the closing market price on NSE as of July 28, 2025 was Rs. 279.29 per share, which is significantly higher than the offer price. The recommendation was unanimously approved by all six independent director members on July 28, 2025.
The offer price of Rs. 76.70 is far below the prevailing market price of Rs. 279.29, making it unattractive for shareholders to tender shares. Public shareholders are advised by the IDC itself to independently evaluate and decide. The stock may remain driven by market price dynamics rather than the offer price, and the wide gap signals limited participation risk in the tendering process.