Independent Directors recommend open offer at Rs 5 per share as fair

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+1.9%+0.1% vs market

Plastic Products - Industrial peers, median of 39sector+0.7%+1.3% vs sector

On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250 and 1.3 pts more than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Plastic Products - Industrial peers, median of 39Pending

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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.