Neelkanth Rock-Minerals: IDC Recommends Open Offer Price of ₹19.40

The Independent Directors Committee (IDC) of Neelkanth Rock-Minerals Ltd has submitted its recommendations to the BSE regarding an open offer to public shareholders. The offer, made by Mr. Sesha Sai Nikhil Chintalapati, aims to acquire up to 13,11,362 equity shares, representing 26.00% of the voting share capital, at a price of ₹19.40 per share. The IDC, comprising independent directors who hold no shares or contracts with the company or the acquirer, has reviewed the Public Announcement, Detailed Public Statement, and Letter of Offer. They have unanimously concluded that the offer price of ₹19.40 per equity share is fair, reasonable, and in compliance with SEBI (SAST) Regulations, 2011. The recommendations were published in Business Standard (English & Hindi), Navshakti (Marathi), and Nava Telangana (Telugu).