Announced Wed, 8 Jul · 15:53 IST
Independent Directors recommend open offer at Rs 5 per share as fair
Price
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Price reaction · full curve 14 horizons · vs prior close
+4.0%1-day move
₹5.55
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+4.0+5.9+7.9+9.9+12.1+16.4————
Up moveDown movePending
AI summary
The Independent Directors Committee of Noble Polymers has recommended the open offer by Mahesh Alabhai Odedra and Hiren Rambhai Odedra as fair and reasonable. The offer is for up to 22,76,406 equity shares (26 percent of voting capital) at Rs 5 per share in cash. The offer is under SEBI Takeover Regulations, with Kunvarji Finstock as manager. The shares are not frequently traded on BSE, and IDC reviewed the offer price against prescribed SEBI parameters.
Likely market impact
Shareholders can tender shares in the open offer at Rs 5 per share; IDC finds the offer price fair and reasonable under SEBI rules.