Sanginita Chemicals Limited has informed the Exchange about constitution of Committee of Independent Directors to provide reasoned recommendations on the Open Offer

The Board of Directors of Sanginita Chemicals Limited has constituted a committee of 4 independent directors to provide reasoned recommendations on an open offer for acquisition. The open offer is for purchasing 1,56,89,957 equity shares representing 26% of the fully diluted voting equity share capital from public shareholders. The acquisition price is Rs. 13.55 per equity share for cash. This is being done in compliance with Regulation 26(7) of SEBI (SAST) Regulations, 2011. The committee will publish its recommendations at least two working days before the tendering period begins.