IDC says open offer at Rs 1.10 per share is fair and reasonable

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+4.7%Reaction day

₹2.54

prior close

₹2.66

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+4.5% vs market

Non Banking Financial Company (NBFC) peers, median of 215sector+0.4%+4.3% vs sector

On the reaction day the stock moved 4.5 pts more than Nifty Microcap 250 and 4.3 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+4.7+0.3+4.5+0.4+4.3

Next day

+9.8+1.1+8.7+0.1+9.7

+15.0+1.3+13.7+1.2+13.8

+20.5+2.0+18.4+1.3+19.2

+26.4+0.3+26.0+0.7+25.7

+32.7+1.1+31.6+0.5+32.2

+45.7-3.2+48.9-1.5+47.2

15d

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UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 215Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The Independent Director Committee of RGF Capital Markets has recommended the open offer by 9 acquirers led by Nishad Jitendra Shah and family as fair and reasonable. Acquirers seek up to 3.90 crore equity shares (26 percent of voting capital) at Rs 1.10 per share plus interest, payable in cash. Price was revised up from Rs 1.00 due to delay in warrant issue. Offer is triggered under SEBI SAST rules.

Likely market impact

Public shareholders may tender shares at Rs 1.10 cash. Offer is for 26 percent stake. Price sits above recent market averages.