Announced Wed, 29 Jul · 11:18 IST
IDC deems open offer for Niraj Cement at Rs 29 per share as fair and reasonable
NIRAJ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.2%1-day move
₹29.22
prior close
₹29.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
——-1.5-1.7-1.2-0.9-0.4-0.1-0.1+0.8-5.4+0.4——
Up moveDown movePending
AI summary
The Committee of Independent Directors of Niraj Cement Structurals has recommended the open offer by acquirer Gulshankumar Vijaykumar Chopra as fair and reasonable. The offer is to acquire up to 1,55,20,529 equity shares, representing 26 percent of share capital, at Rs. 29 per share in cash. The IDC noted the offer price is higher than the 60-day volume-weighted average market price and that shares are frequently traded on the exchange.
Likely market impact
Independent directors endorse the offer price. Shareholders should independently evaluate and take an informed decision on tendering shares.