Outcome of Meeting of Committee of Independent Directors for Open Offer.
Price
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Awaiting price reaction for this filing.
Sita Enterprises Ltd's Committee of Independent Directors met on 15th July 2025 to review an open offer by Mr. Jitendra Rasiklal Sanghavi to acquire up to 7,50,000 equity shares (representing 25% of the company's paid-up share capital) at Rs. 92.50 per share, including 10% per annum interest for delayed payment. The original public announcement was made on 24th December 2024, with the Letter of Offer issued on 7th July 2025. After reviewing the offer documents, the Committee concluded that the open offer is fair and reasonable for the shareholders.
This is a procedural update confirming the Independent Directors' endorsement of the open offer price of Rs. 92.50 per share. Shareholders now have a benchmark view from the company's independent directors and can evaluate whether to tender their shares in the open offer window.