Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. ("Manager to the offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ("IDC") of Hari Govind ....
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Awaiting price reaction for this filing.
Marwadi Chandarana Intermediaries Brokers Pvt Ltd, acting as Manager to the Offer, has filed with BSE the recommendation of the Independent Directors Committee (IDC) of Hari Govind International Limited (Scrip Code: 531971) regarding a mandatory open offer. The offer is for up to 22,16,500 equity shares (26% of expanded share capital) at Rs. 10 per share in cash, made by acquirers Shaju Thomas and Linta Purayidathil Jose. The open offer follows a Share Purchase Agreement and Preferential Allotment signed on May 24, 2025. The IDC, after reviewing the Public Announcement, Detailed Public Statement, Letter of Offer, and two corrigenda, has unanimously recommended the offer price of Rs. 10 per share as fair and reasonable under SEBI (SAST) Regulations, 2011. No shareholder complaints regarding the offer process, valuation, or methodology were received.
This is a routine regulatory filing confirming the IDC's fair-and-reasonable opinion on the open offer price. Public shareholders of Hari Govind International Limited can now evaluate and decide whether to tender their shares at Rs. 10 per share during the open offer window.