Grand Foundry Open Offer: ₹2.50 Price, IDC Recommends Fair

D & A Financial Services, acting as Manager to the Offer for Grand Foundry Limited, has published a pre-offer advertisement. The open offer price is set at ₹2.50 per equity share. The Committee of Independent Directors (IDC) has recommended this price, deeming it fair and reasonable as it is higher than both the valuation parameter price (₹2.28) and the negotiated price under the share purchase agreement (₹1.50). The Detailed Public Statement was issued on March 10, 2026, and the Letter of Offer was dispatched to shareholders by June 2, 2026. No statutory approvals are required for this offer.