Announced Mon, 6 Jul · 11:10 IST
IDC recommends open offer at Rs 10 per share as fair and reasonable
Compliance View source PDF
Price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Open Offer by Yoga Builders, Scaffold Properties and MDK Properties to acquire up to 12,87,988 shares (26% stake) of TMT India at Rs 10 per share in cash. Independent Directors Committee finds the offer fair and reasonable, noting the offer price exceeds the fair value of Rs 6.75 per share certified by a registered valuer. The company has negative book value and negative profitability, and shares are infrequently traded.
Likely market impact
Shareholders may consider accepting the offer as IDC deems it fair and the price is above fair value of Rs 6.75. Stock is infrequently traded.