Restaurant Brands Asia Limited has announced the recommendation of its Committee of Independent Directors (IDC) regarding the proposed open offer. The IDC has provided its written recommendation, as required by Regulation 26(7) of the SEBI (SAST) Regulations, 2011, concerning the open offer for acquisition of up to 20,80,61,717 equity shares, representing approximately 26.00% of the expanded voting share capital. The open offer is being made by Lenexis Foodworks Private Limited, Aayush Agrawal Trust, Inspira Foodworks Private Limited, and Mr. Aayush Madhusudan Agrawal, collectively referred to as the "Acquirers", along with Inspira Agro Trading LLC as a person acting in concert. The offer price is ₹70 per equity share, with an additional applicable interest of ₹0.38 per equity share, totaling ₹70.38 per equity share. The Committee of Independent Directors has reviewed the Open Offer Documents and concluded that the offer price is fair and reasonable. Their recommendation is based on several factors, including compliance with SEBI (SAST) Regulations, the offer price being equal to the highest negotiated price under the relevant agreements, and being higher than the volume-weighted average market price for the 60 trading days preceding the public announcement. However, the IDC noted that the closing market price on May 26, 2026, was lower than the offer price. The public shareholders are advised to independently evaluate the offer and make an informed decision. The recommendation was unanimously approved by the IDC members on June 02, 2026. The detailed public statement was published on January 28, 2026, and the Letter of Offer was issued on May 26, 2026. The newspaper publications of the recommendation were made on June 03, 2026.
