Vineet Bajpai, Agam Gupta and Sanyam Jain entered into a Share Purchase Agreement to acquire 52.4% stake in Beryl Securities Limited from group of shareholders for INR 7.4 million.

Vineet Bajpai, Agam Gupta and Sanyam Jain entered into a Share Purchase Agreement to acquire 52.4% stake in Beryl Securities Limited (BSE:531582) from group of shareholders for INR 7.4 million on May 2, 2023. Under the terms of agreement, Acquirers agree to acquire 2.5 million shares at price of INR 2.94 per share. In related trasaction, Vineet Bajpai, Agam Gupta, Sanyam Jain and Rani Bajpai made an Open offer to acquire 26% stake in Beryl Securities Limited from shareholders for approximately INR 17 million on May 2, 2023.

Post completion, Vineet Bajpai will hold 26.2 % stake and Agam Gupta and Sanyam Jain will hold13.1% stake in Beryl Securities whereas seller will dilute all its ownership. As per the SPA, the existing promoters’ shares will be transferred to the Acquirers upon completion of the Open Offer and we are filing disclosure in the manner as provided under SEBI (SAST) Regulations, 2011 and SEBI (Insider Trading) Regulations.