Submission of recommendation of the Committee of Independent Directors of the Company on the Open Offer
Awaiting price reaction for this filing.
The Committee of Independent Directors (IDC) of Premium Capital Market & Investments Ltd has submitted its recommendation on the open offer made by Suman Nandi (the Acquirer). The open offer is for the acquisition of up to 17,04,000 fully paid-up equity shares, representing 26% of the company's equity and voting share capital, at a price of Rs. 6.40 per share (face value Rs. 10). The shares are classified as infrequently traded under SEBI Takeover Regulations. After reviewing the offer documents, the IDC has opined that the offer price of Rs. 6.40 per share is fair and reasonable, though shareholders are advised to independently evaluate and make informed decisions. The recommendation was unanimously approved by IDC members.
For shareholders, this means a formal open offer is active at Rs. 6.40 per share — they can choose to tender shares or hold. The IDC's fairness opinion is a procedural step under SEBI takeover rules and doesn't by itself signal a price movement, but the offer price serves as a reference benchmark for the stock.