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The Committee of Independent Directors (IDC) of Gokaldas Exports has said the offer price of ₹63.25 a share offered to public shareholders by the acquirer is fair and reasonable, and in accordance with SEBI regulations.
Clear Wealth Consultancy Services LLP (acquirer) along with Mathew Cyriac, Gazania Advisory LLP, Westex InfoTech Pvt Ltd and Gautham Madhavan (persons acting in concert), have made an open offer to the shareholders of Gokaldas Exports for acquisition of 91.80 lakh shares, representing 26 per cent of the expanded voting share capital of the company.
The open offer, which opens for subscription on Friday, will close on June 30.
The members of IDC further said that as the closing market price of the shares as on June 12 was ₹79.15, which was higher than the price offered, shareholders are recommended to do an independent evaluation of the offer price.
The open offer was mandatory after the acquirer, along with PACs, agreed to acquire 1.395 crore shares, representing 39.94 per cent of the current voting share capital, at a price of ₹42 a share from its current promoter Blackstone FP Capital Partners.
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