Prasada Rao kalluri has submitted to the Exchange a copy of Recommendation of the committed of Independent Directors (IDC) on the open offer to the public shareholders of the company under Regulation 26(7) of SEBI of india (SAST) Regulations, 2011 and subsequent amendments thereto SEBI (SAST) Regulations, 2011.
SILLYMONKS · price
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Prasada Rao Kalluri has submitted to the stock exchange the recommendation of the Independent Directors Committee (IDC) on the open offer made to public shareholders of Silly Monks Entertainment. This filing is made under Regulation 26(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The IDC recommendation advises public shareholders on whether to accept or reject the open offer. This is a mandatory disclosure step once a potential acquirer triggers an open offer under takeover rules.
Public shareholders should review the IDC's recommendation carefully before deciding whether to tender their shares in the open offer. The recommendation itself does not change the offer price but provides independent guidance on the fairness of the deal for retail investors.