Open Offer Details

  • Open Offer to acquire up to 15,45,271 equity shares of ₹10/- each
  • Represents 26.00% of the fully paid up and voting share capital of Oxford Industries Limited
  • Offer price: ₹5.00 per fully paid-up equity share payable in cash
  • Acquirer: Saroj Kumar Choudhury
  • Legal basis: Regulation 3(1) and Regulation 4 of SEBI (SAST) Regulations, 2011
  • Manager to the offer: Navigant Corporate Advisors Limited

Committee of Independent Directors (IDC) Composition

  • Chairperson: Aakansha Vaid
  • Member: Iranee Tripathy
  • Member: Nitin Arvind Oza

IDC Relationships and Holdings

  • All IDC members are Independent Directors of Oxford Industries Limited
  • No IDC member holds any equity shares in the Target Company
  • No IDC member has any other contract or relationship with the Target Company
  • No trading has been done by IDC members in equity shares/other securities of the Target Company
  • No IDC member has any relationship with the Acquirer (Saroj Kumar Choudhury)

IDC Recommendation

The IDC believes that the Open Offer is fair and reasonable. However, shareholders should independently evaluate the Offer and take informed decision.

Summary of Reasons for Recommendation

IDC recommends acceptance of the Open Offer based on the following reasons:

1. The Offer price appears reasonable considering negative book value & profitability of the Company

2. The offer price of ₹5.00 per share is more than the price to be paid by Acquirer in SPA (Share Purchase Agreement) to Sellers

3. The offer price of ₹5.00 per share is equal to the price paid by Acquirer for acquisition of equity shares during 52 weeks immediately preceding the date of Public Announcement (PA)

4. The equity shares of Oxford Industries Limited are infrequently traded shares within the meaning of explanation provided in Regulation 2(i) of SEBI (SAST) Regulations, 2011

5. The offer price of ₹5.00 per share is more than the fair value of equity share which is ₹3.70 (Rupees Three and Paisa Seventy only) as certified by independent valuer

Independent Valuation Details

  • Valuer: CA Jay Shah, Independent Valuer
  • Registration: Registered Valuer - Securities or Financial Assets (Reg No: IBBI/RV/07/2022/14720)
  • Office: 702, Shah Trade Centre, Malad East, Mumbai - 400 097
  • Contact: Email: jashahassociates@gmail.com; Mobile: +91 96994 68404
  • Valuation Certificate Date: March 12, 2026
  • UDIN: 26175050KJMPLV8054
  • Valuation conducted in accordance with Regulation 8(16) of SEBI (SAST) Regulations

Publication Details

The advertisement was published on 10th June, 2026 in:

  • Financial Express - English Daily (all editions)
  • Jansatta - Hindi Daily (all editions)
  • Pratahkaal - Marathi Daily (Mumbai edition)

Additional Information

  • No independent advisors were engaged
  • No other matters required to be disclosed under SEBI (SAST) Regulations
  • The IDC confirms that to the best of their knowledge and belief, the information contained is true and correct in all material respects