Bonanza Portfolio Limited ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ('IDC') of Shentracon Chemicals Ltd ("Target ....
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Bonanza Portfolio Ltd, acting as the Manager to the Offer, has submitted to BSE the recommendations of the Committee of Independent Directors (IDC) of Shentracon Chemicals Ltd in connection with an open offer. The open offer is being made by Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain for acquisition of up to 11,53,917 equity shares, representing 26% of the fully paid-up equity and voting share capital, from the public shareholders of Shentracon Chemicals. The open offer follows the execution of a Share Purchase Agreement and is in compliance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The IDC recommendations were published in Financial Express, Jansatta, Mumbai Lakshadweep, and Duranta Barta newspapers.
A change of ownership is underway at Shentracon Chemicals, with acquirers buying a controlling stake and an open offer of 26% now active for public shareholders. Shareholders should review the IDC recommendation report carefully for the fair value opinion and consider their exit or hold decision during the open offer window.