Orient Cement Limited has informed the Exchange about the recommendations of the committee of Independent Directors on Open Offer Price
ORIENTCEM · price
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Orient Cement's Independent Directors Committee has published its recommendations on the open offer made by Ambuja Cements Limited to acquire up to 5.34 crore equity shares from public shareholders at INR 395.40 per share, totalling about INR 2,112 crore. The open offer is part of Ambuja Cements' (Adani Group) acquisition of Orient Cement under SEBI's Takeover Regulations. The public announcement was made on October 22, 2024, and the final letter of offer was filed on May 19, 2025. The IDC's written recommendations were published on May 22, 2025, in Financial Express, Jansatta, Surya Prava, and Navshakti newspapers, as required by SEBI rules.
This is a procedural disclosure under SEBI takeover rules, not a new event. Existing shareholders of Orient Cement now have the IDC's formal view on whether the INR 395.40 per share offer price is fair. The stock may see activity as shareholders weigh the offer against the prevailing market price and the IDC's recommendations.