SJ Corporation: Independent Directors Recommend Open Offer

Diggi Corporate Advisors Pvt. Ltd., acting as the Manager to the Offer, has submitted the Recommendations of the Committee of Independent Directors (IDC) for SJ Corporation Ltd. The open offer, made by Mr. Pintu Kanjibhai Kalavadia, Mr. Prashant Kanjibhai Kalavadia, Mr. Umang Kantilal Savani, and Mr. Kalpesh Patel, aims to acquire up to 1,12,72,300 equity shares, representing 26.00% of the expanded share capital, at a price of ₹12.00 per share. The total offer size is ₹19,52,67,600.00. The IDC members have confirmed their independence and lack of conflicts of interest with the target company or the acquirers.