Please find enclosed copy of Newspaper Advertisements in respect of Recommendations of the Independent Directors Committee of the Company in relation to the open offer to the public shareholders ....
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Shriram Asset Management Company Limited has published newspaper advertisements with the Independent Directors Committee's (IDC) recommendation on the Open Offer made by Sanlam Emerging Markets (Mauritius) Limited together with Shriram Credit Company Limited. The Open Offer seeks to acquire up to 43,95,499 equity shares (representing 26% of voting share capital) from public shareholders at Rs. 270 per share, aggregating to a total consideration of approximately Rs. 118.68 crore in cash. After reviewing the offer documents, the IDC has unanimously recommended the Rs. 270 per share offer price as fair and reasonable and compliant with SEBI takeover regulations. The advertisements appeared on April 17, 2025 in Business Standard (English and Hindi, all editions) and Navshakti (Marathi, Mumbai edition). All five IDC members, including Chairman Mr. R Vaidyanathan, voted in assent. Upon completion, the Acquirer Sanlam will be classified as a co-promoter alongside existing promoter Shriram Credit Company Limited. The shares are noted to be infrequently traded on BSE.
Public shareholders of Shriram AMC can now consider tendering their shares at the Rs. 270 offer price, which the IDC has unanimously deemed fair and reasonable. The decision to tender or hold remains with individual shareholders, who are advised to evaluate the offer independently against market performance.