Newspaper publication of recommendation of Committee of Independent Directors published on Wednesday, 30th July 2025.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pharmaids Pharmaceuticals has published the recommendation of its Committee of Independent Directors (IDC) on an open offer, as required under SEBI Takeover Regulations. The open offer is by Shankarappa Nagaraja Vinaya Babu (Acquirer) along with Tumkur Trade Center Private Limited (PAC), who propose to acquire up to 91,69,632 equity shares (face value Rs. 10 each) from public shareholders at Rs. 62.15 per share, aggregating up to about Rs. 56.99 crore. The IDC's recommendation was published on July 30, 2025, in Financial Express (English, all editions), Jansatta (Hindi, all editions), Udaykala (Kannada, Bangalore edition), and Navshakti (Marathi, Mumbai edition), in compliance with Regulation 26(7) of the SEBI (SAST) Regulations, 2011. The filing has been made to BSE purely as a disclosure of the newspaper publication.
This is a procedural compliance disclosure related to an existing open offer — no new offer price, size, or timeline has been announced. Shareholders should look for the IDC's actual recommendation (favourable, unfavourable, or neutral) in the published advertisement to assess whether to tender their shares in the open offer at Rs. 62.15 per share.