Srujan Alpha Capital Advisors LLP ("Manager to the Open Offer") vide its letter dated June 12, 2025 has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ....
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Mr. Shailesh Agrawal and Mr. Ramji Das Agarwal have made an Open Offer to acquire up to 14,94,922 equity shares, representing 26% of the total voting share capital of RSC International Ltd, at a price of Rs 9.50 per fully paid-up share. The Recommendations of the Committee of Independent Directors (IDC), dated June 11, 2025, were published in The Financial Express, Jansatta, Pratahkal, and Business Remedies newspapers on June 12, 2025, as required under SEBI Takeover Regulations. Srujan Alpha Capital Advisors LLP is acting as the Manager to the Open Offer. The IDC recommendations are now being formally submitted to BSE for public dissemination.
This is a standard procedural step in an ongoing open offer process. Shareholders of RSC International should review the IDC recommendations to understand the independent directors' view on whether the offer price of Rs 9.50 is fair, before deciding to tender their shares in the open offer.