Swaraj Shares and Securities Private Limited ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors (''IDC'') of Chemo Pharma ....
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M/s Atibha Agriseeds Private Limited (Acquirer) has announced an Open Offer to acquire up to 3,90,000 equity shares (26.00% of voting share capital) of Chemo Pharma Laboratories Limited from public shareholders at ₹110 per share, for a maximum total consideration of ₹4.29 crore. This open offer was triggered under SEBI (SAST) Regulations following a Share Purchase Agreement dated February 18, 2025, under which the Acquirer agreed to buy 4,18,281 shares (27.89%) from selling promoters — Citric India Limited and Mrs. Shanta Somani — at ₹100 per share, aggregating ₹4.18 crore. The Independent Directors Committee of Chemo Pharma has published its recommendations on the offer in Financial Express, Jansatta, and Mumbai Lakshadeep newspapers on May 20, 2025. Swaraj Shares and Securities Private Limited is acting as Manager to the Offer.
For public shareholders of Chemo Pharma Laboratories, this presents a potential exit opportunity at ₹110 per share through the tendering process. The offer price is at a premium to the negotiated promoter sale price of ₹100, though shareholders should review the IDC's published recommendations before deciding to tender. The deal signals a change of control at Chemo Pharma, with the new promoter (Atibha Agriseeds) acquiring majority stake.