Rarever Financial Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors on the Open Offer of Ortin Global ....
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Ortin Global Limited has submitted the recommendation of its Committee of Independent Directors (IDC) on an open offer made by Mr. Parveen Satija to acquire 21,14,162 equity shares (26% of the paid-up capital) from public shareholders at Rs. 14.65 per share in cash. The offer is being made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The IDC, comprising three independent directors, has reviewed the Public Announcement, Detailed Public Statement, Draft Letter of Offer, and Letter of Offer, and concluded that the offer price is fair and reasonable. Rarever Financial Advisors Private Limited is acting as the Manager to the Offer. No shareholder complaints have been received regarding the offer process or valuation.
This is a procedural filing confirming the Independent Directors' endorsement of the open offer price. Public shareholders now have a benchmark to decide whether to tender their shares at Rs. 14.65 per share, though they are advised to make their own informed decision. The offer represents a potential change in control dynamics for the company.