The Committee of Independent Directors at its meeting held on 24th November 2025 discussed, analyzed and reviewed that the open offer given by Acquirer and concluded that open offer is ....
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The Committee of Independent Directors (IDC) of Octaware Technologies Ltd reviewed and unanimously approved the open offer made by Walking Tree Technologies Private Limited. The Acquirer is offering to buy up to 9,34,400 equity shares (26.02% of voting share capital) at Rs. 30 per share of Rs. 10 face value, payable in cash. The IDC, after evaluating the Public Announcement, Detailed Public Statement and Letter of Offer prepared by the Manager to the Offer, concluded the price is fair, reasonable and in line with SEBI Takeover Regulations. No shareholder complaints have been received on the offer process or valuation. Shareholders have been advised to independently evaluate and make an informed decision on whether to tender their shares.
The IDC's favorable opinion clears a key regulatory hurdle, making the open offer more likely to proceed smoothly. Shareholders now have a cash exit option at Rs. 30/share, though they should compare this with prevailing market price before tendering, as the offer price is not always the best available price.