Amar Jitendra Patwa, Sangita Amar Patwa and Shah Shalvi Rajan made an offer to acquire a 26.09% stake in AKM Lace and Embrotex Limited (BSE:540718) for INR 7.9 million on September 6, 2021. As a part of the transaction 0.78 million shares will be acquired at INR 10 per share in cash. The acquirers have an adequate resources and have made a firm financial agreements for financing the acquisition AKM Lace and Embrotex. In a related transaction, Amar Jitendra Patwa, Sangita Amar Patwa And Shah Shalvi Rajan entered into a Share Purchase Agreement to acquire a 38.85% stake in AKM Lace and Embrotex Limited from a group of sellers for INR 11.7 million on September 6, 2021. The open offer is not conditional to any minimum acceptance. AKM Lace and Embrotex Limited established the Committee of Independent Directors (IDC) with Manoj Kumar as Chairman and Rinku Goyal as member. IDC is of the view that Open Offer is fair and reasonable. The offer period is from October 27, 2021 to November 11, 2021. As of November 8, 2021, Offer will open on November 9, 2021, and will close on November 23, 2021. Vikas Kumar Verma of Fast Track Finsec Private Limited acted as financial advisor and Alok Gautam of Skyline Financial Services Private Limited acted as registrar to Amar Jitendra Patwa, Sangita Amar Patwa and Shah Shalvi Rajan. Amar Jitendra Patwa, Sangita Amar Patwa and Shah Shalvi Rajan cancelled the acquisition of 26.09% stake in AKM Lace and Embrotex Limited (BSE:540718) on November 23, 2021.