Outcome of Meeting of Committee of Independent Director for Open Offer of High Street Filatex Limited
Price
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The Committee of Independent Directors of High Street Filatex Limited met on April 7, 2025, to review an open offer to acquire up to 10,96,792 equity shares (26% of the emerging equity and voting share capital) at a face value of Rs. 10 each. The offer is being made by Mr. Sandeep Agrawal and Mrs. Anupriya Sandeep Agrawal (collectively the Acquirers). The open offer follows a Public Announcement dated January 24, 2025, a Detailed Public Statement on January 31, 2025, and a Letter of Offer dated March 27, 2025. After reviewing the offer terms, the Independent Directors Committee concluded that the open offer is fair and reasonable.
Shareholders of High Street Filatex can view this as a positive validation of the offer price by the company's Independent Directors. Existing shareholders now have a clearer basis to decide whether to tender their shares in the open offer window.