Open Offer8 May 2026, 02:46 pm
Avi Products: IDC Recommends Open Offer at ₹33/Share
AI Summary
The Independent Directors Committee (IDC) of Avi Products India Ltd has submitted its recommendation to the BSE regarding the open offer to public shareholders under Regulation 26(7) of SEBI (SAST) Regulations, 2011. The IDC has recommended the open offer, stating that the offer price of ₹33.00 per equity share is fair and reasonable, based on a review of the Public Announcement, Detailed Public Statement, and Letter of Offer. The open offer is for the acquisition of up to 859,769 equity shares, representing 26.00% of the voting share capital.
Key Highlights
- Avi Products' IDC recommends open offer to public shareholders at ₹33 per share.
- The open offer targets 26% of Avi Products' voting share capital.
- IDC considers the offer price fair and reasonable under SEBI regulations.
- PPMS Real Estates LLP is the acquirer in the open offer.
- Mark Corporate Advisors Private Limited is managing the open offer.