Lalit Bhasin agreed to acquire additional 15.3% stake in HB Leasing and Finance Company Limited (BSE:508956) from Merrygold Investment Ltd., Pal Properties India Pvt. Ltd., HB Stockholdings Limited (BSE:532216), RRB Securities Ltd. and HB Financial Consultants Ltd on March 18, 2019. Merrygold Investment Ltd. shall sell 1.51 million shares, Pal Properties India Pvt.

Ltd. shall sell 0.11 million shares, HB Stockholdings Limited (BSE:532216) shall sell 0.04 million shares, RRB Securities Ltd. shall sell 0.03 million shares and HB Financial Consultants Ltd. shall sell 2,000 shares of HB Leasing and Finance Company, respectively. Prior to the transaction, Lalit Bhasin held 19.56% stake in HB Leasing and Finance Company and Merrygold Investment Ltd. held 13.63%, Pal Properties India Pvt. Ltd. held 0.95%, HB Stockholdings Limited (BSE:532216) held 0.39%, RRB Securities Ltd. held 0.31% and HB Financial Consultants Ltd. held 0.02% stake in HB Leasing and Finance Company, respectively.

Post completion, Lalit Bhasin shall hold 34.86% stake in HB Leasing and Finance Company and the sellers shall hold no stake. The transaction is expected to be completed on or after March 25, 2019.