ICCL Independent Directors Recommend Open Offer

India Cements Capital Limited (ICCL) has announced that the Committee of Independent Directors (IDC) has approved its recommendation on the open offer to acquire 56,43,612 equity shares, representing 26.00% of the voting share capital, at an offer price of ₹12 per share. The offer is being made by Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar, and Mrs. Neha Agarwal (Persons Acting in Concert). The IDC found the offer to be fair and reasonable, noting that none of its members hold shares in ICCL or have any relationship with the acquirers. The recommendation will be published in Financial Express, Jansatta, Pratahkal, and Makkal Kural on October 23, 2026.