Rashmikant Amratlal Thakkar made an offer to acquire a 49.11% stake in Amrapali Fincap Limited (BSE:539265) for approximately INR 150 million on January 31, 2022. Rashmikant Amratlal Thakkar will acquire 6.6 million shares of Amrapali Fincap Limited at a price of INR 15.5 per share in cash. Rashmikant Amratlal Thakkar will acquire 6.6 million shares for INR 22.2 per share.

Rashmikant Amratlal Thakkar already holds 1.68 million shares representing 12.5% stake in Amrapali Fincap Limited. The tender offer will start on June 07, 2022 and end on June 20, 2022. In a related transaction, Rashmikant Amratlal Thakkar entered into a share purchase agreement to acquire a 13.19% stake in Amrapali Fincap Limited from Amrapali Industries Limited (BSE:526241), Chirag Thakkar and Sunny Thakkar for INR 26.6 million on January 31, 2022.

This offer is not conditional upon any minimum level of acceptance, not subject to receipt of any statutory, regulatory and or other approvals/no objections. The committee of the ndependent directors of Amrapali Fincap, and review recommend that the offer is fair and reasonable. Vanesh Panchal and Jaini Jain of Interactive Financial Services Limited acted as financial advisors and Michael Monteiro and Surendra Gawade of SATELLITE CORPORATE SERVICES PRIVATE LIMITED acted as registrar to Rashmikant Amratlal Thakkar.