Bharat Bhushan Nagpal entered into a Share Purchase Agreement to acquire Chavan Rishi International Limited from A2Z Infra Engineering Limited (BSE:533292) for INR 60 million on November 13, 2021. Consideration of INR 10 million has been received and INR 50 million shall receive by January 31, 2022. As on March 31, 2021, Chavan Rishi International Limited reported revenue of INR 12.727 million and net worth of INR 17.848 million. Post completion, Chavan Rishi International Limited will ceased to be the wholly owned subsidiary of the A2Z Infra Engineering Limited. Transaction is expected to complete on January 31, 2022. The proceeds of the transaction will be utilized towards the payment of proposed one time settlement with DBS Bank.

Bharat Bhushan Nagpal completed the acquisition of Chavan Rishi International Limited from A2Z Infra Engineering Limited (BSE:533292) on February 8, 2022.