Submission of Recommendations by the Committee of Independent Directors
Awaiting price reaction for this filing.
The Committee of Independent Directors (IDC) of Sanofi Consumer Healthcare India has submitted its written, reasoned recommendations on the open offer made by Opal Bidco SAS (along with Clayton, Dubilier & Rice Fund XII, L.P. as a person acting in concert). The offer is to buy up to 59,87,962 equity shares, representing 26% of the fully diluted voting share capital, at a price of Rs. 4,982.05 per share. The IDC meeting was held on April 10, 2025, and the recommendations are being filed with the stock exchanges, SEBI, and the offer manager (Citi Global Markets India). The recommendations reference the context of the 2023 demerger from Sanofi India. Recommendations will be published in Financial Express, Jansatta, and Navshakti on April 11, 2025.
This is a procedural regulatory filing where the independent directors provide their view on whether shareholders should tender in the open offer. Investors should review the IDC's recommendation, including the fairness opinion, before deciding to tender shares at Rs. 4,982.05.