Newspaper Publications pertaining to Recommendations of Committee of Independent Directors in relation to the ongoing Open Offer of the Company
Awaiting price reaction for this filing.
Classic Filaments Ltd has published in newspapers (Feb 6, 2026) the recommendation of its Independent Director Committee on the ongoing Open Offer made by four acquirers — Sumit Bansal, Vikkas Bansal, Tarun Jain, and Varun Jindal. The acquirers are offering to buy up to 15,89,471 equity shares, representing 26% of the company's paid-up capital, at a price of Rs. 12 per share (face value Rs. 10). The offer price is marginally above the fair value of Rs. 11.96 per share determined by an independent registered valuer, and well above the negotiated price of Rs. 10 per share paid under the underlying Share Purchase Agreement. The IDC has concluded that the offer is fair and reasonable based on SEBI Takeover Regulations.
Independent directors have endorsed the offer as fair and reasonable, which supports acquirer credibility. However, the IDC itself flagged that Classic Filaments shares are currently trading on BSE at a price higher than the Rs. 12 offer price, meaning shareholders may get a better exit in the open market. This filing is procedural compliance and does not alter the offer terms.