We are enclosing the Advertisements dated 08.09.2025 of the recommendations of the Independent Directors Committee (held on 06.09.2025) to the Public Shareholders regarding the open offer ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
National Fittings Limited has submitted newspaper advertisements published on September 8, 2025 (in Financial Express, Jansatta, Navshakthi, and Dinakural) containing the Independent Directors Committee's (IDC) recommendation to public shareholders regarding the open offer made by Himgiri Castings Private Limited along with Persons Acting in Concert (Anil Kumar Agarwal, Manoj Kumar Agarwal, M. Arpit Agarwal, and Ms. Arushi Agarwal). The IDC met on September 6, 2025 and reviewed the Public Announcement dated May 22, 2025, the Detailed Public Statement dated May 29, 2025, and the Letter of Offer dated August 26, 2025. The offer price is Rs. 35 per equity share. The IDC concluded that the Offer Price of Rs. 35 is fair and reasonable in terms of SEBI (SAST) Regulations, though the committee expressed no opinion on the underlying Public Announcement itself.
For public shareholders, the open offer provides an opportunity to exit at Rs. 35 per share. The IDC's recommendation of 'fair and reasonable' on the price is supportive, but shareholders are advised to independently decide whether to tender their shares in the offer.