The committee of Independent Directors as its meeting held on today , analysed and reviewed that the open offer given by acquirers pursuant to public announcement dated 3rd Jun, 2025 detailed ....
Awaiting price reaction for this filing.
The Committee of Independent Directors of Lords Mark India Ltd met on October 8, 2025, to review an open offer by Mr. Sachidanand Hariram Upadhyay to acquire up to 2,60,000 equity shares (26% of voting capital) at Rs. 30 per share of Rs. 10 face value. The offer follows a public announcement on June 3, 2025, a detailed public statement on June 9, 2025, and a letter of offer on October 3, 2025. After analysis, the Committee concluded that the open offer is fair and reasonable for shareholders. The acquirer is an individual, Mr. Sachidanand Hariram Upadhyay, and the offer price represents a 3x premium to face value, though the premium to market price is not disclosed in this filing.
Shareholders now have a clear independent committee recommendation that the offer price of Rs. 30 per share is fair and reasonable, which may help them make an informed decision on tendering shares. The 26% acquisition size suggests a significant change in ownership, though it falls short of a full takeover threshold.