Company Update

V.R.

Woodart's independent directors have provided their view on the open offer by Mrs. Minal Patil and Ms. Maddukuri Mounica.

The acquirers are seeking to buy up to 1.065 Cr shares, representing 26% of the company's voting capital, at ₹22 per share.

This translates to a total potential consideration of up to ₹23.43 Cr.

While the independent directors find the offer price in line with regulatory parameters, they highlight that the current market price of ₹49.82 per share is significantly higher.

Shareholders are advised to carefully assess the offer and market conditions before deciding.