IDC recommends open offer at ₹8/share as fair and reasonable
Price
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Awaiting price reaction for this filing.
Senthil Infotek's Committee of Independent Directors has recommended an open offer by Kolli Murali Krishna and Gogineni Srinivas to acquire up to 13,13,000 equity shares (26% of voting capital) at ₹8 per share. The offer price is above the negotiated price of ₹5.50 and the fair value of ₹7.48. Shares are infrequently traded on BSE. The IDC deemed the offer fair and reasonable under SEBI SAST Regulations. Public shareholders can tender or hold.
Public shareholders may tender at ₹8/share, above fair value of ₹7.48 but at a discount to face value of ₹10; signals potential change in control.