Srujan Alpha Capital Advisors LLP ("Manager to the Offer") has submitted to BSE a copy of the recommendations of the Commiittee of Independent Directors ("IDC") on the Open Offer to the ....
Awaiting price reaction for this filing.
Mr. Neerav Bairagi (the Acquirer) has made an Open Offer to buy up to 60,21,053 shares, representing 26% of the total voting share capital of JMG Corporation Ltd, at a price of ₹5.30 per fully paid-up share. The Committee of Independent Directors (IDC) of JMG Corporation submitted its recommendations on this Open Offer, dated February 12, 2026, to BSE via the Manager to the Offer, Srujan Alpha Capital Advisors LLP. These recommendations were published on February 13, 2026 in The Financial Express (English), Jansatta (Hindi), and Pratahkal (Marathi) newspapers, as required under Regulation 26(7) of the SEBI Takeover Regulations, 2011. The filing is essentially a procedural submission of the published IDC recommendations for BSE's records.
This is a procedural regulatory filing and does not directly affect share price. However, investors should review the IDC recommendations to understand the independent directors' view on whether the Open Offer price of ₹5.30 per share is fair. The Offer price represents a key benchmark for shareholders deciding whether to tender their shares in the Open Offer.