Sharp India: Independent Directors Recommend Open Offer

Navigant Corporate Advisors Ltd., acting as the Manager to the Offer, has submitted the recommendations of the Committee of Independent Directors (IDC) regarding the open offer for Sharp India Limited's equity shares. The IDC has reviewed the offer documents and believes the open offer, priced at Rs. 10.00 per share, is fair and reasonable. They recommend shareholders accept the offer, citing the offer price's reasonableness in light of the company's negative book value and profitability, and its alignment with the price in the Share Purchase Agreement (SPA). The fair value of the equity shares was certified as NIL by a registered valuer.