Outcome Of Meeting Of Committee Of Independent Directors For Open Offer Of R S C International Limited Held On Wednesday June 11, 2025.
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The Committee of Independent Directors (IDC) of RSC International Ltd has reviewed the open offer by Mr. Shailesh Agrawal and Mr. Ramji Das Agarwal to acquire up to 14,94,922 equity shares (26% of voting capital) at Rs. 9.50 per share in cash. The offer is triggered under SEBI Takeover Regulations following a Share Purchase Agreement signed on January 20, 2025. The IDC unanimously recommended the offer as fair and reasonable, noting that the Rs. 9.50 price equals the negotiated SPA price with sellers. An independent valuation, however, arrived at a lower price of Rs. 5.29 per share. The shares of RSC are classified as infrequently traded on BSE, so SEBI regulations permit pricing based on such parameters.
Shareholders now have an opportunity to tender shares at Rs. 9.50 per share in cash through the open offer window. Since the offer price is well above the independent valuation of Rs. 5.29, shareholders may view the offer favorably, though they are advised to evaluate independently before tendering.