Findoc Finvest Private Limited made an offer to acquire an additional 25.194048% stake in Ritesh Properties and Industries Limited (BSE:526407) for INR 2.9 billion on October 6, 2022. Findoc Finvest Private Limited will acquire approximately 70 million shares for INR 42.9 each. The offer is subject to statutory approvals.

As of February 3, 2023, Committee of Independent Directors Recommended the offer. The tender offer will commence on December 1, 2022, and close on December 14, 2022. As of February 6, 2023, the tender offer will commence on February 8, 2023 and close on February 21, 2023.

The transaction Settlement Date has been revised to March 1, 2023. Ajay Pratap of Almondz Capital Markets Private Limited acted as financial advisor to Findoc and Skyline Financial Services Private Limited acted as registrar to Findoc.