Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ('IDC'') of Kashyap Tele-Medicines ....
Awaiting price reaction for this filing.
The Independent Directors Committee (IDC) of Kashyap Tele-Medicines Limited has submitted its recommendations on the Open Offer made by June Enterprises Private Limited (Acquirer). The Acquirer is offering to buy up to 1,24,07,720 shares (26% of voting capital) from public shareholders at ₹1.50 per share, with a maximum payout of about ₹1.86 crore. The Open Offer was triggered by a Share Purchase Agreement signed on March 5, 2025, under which the Acquirer will first buy 1,68,72,900 shares (35.35%) from five promoter/promoter-group sellers at the same ₹1.50 price. The IDC reviewed all offer documents (Public Announcement, Detailed Public Statement, Draft Letter of Offer, and final Letter of Offer dated May 19, 2025) and unanimously recommended the offer as fair and reasonable, while advising public shareholders to independently evaluate the offer and review the risk factors in the Letter of Offer.
Public shareholders of Kashyap Tele-Medicines now have the IDC's formal 'fair and reasonable' recommendation to consider. The ₹1.50 offer price will likely be a focal point — shareholders should weigh it against prevailing market price and any risks highlighted in the Letter of Offer before deciding to tender. The deal also signals a change of control, with June Enterprises set to become the new promoter after completing the promoter share purchase and open offer.