Anupam Gupta and Abhay Narain Gupta made an offer to acquire 26.1% stake in Ind Renewable Energy Limited (BSE:536709) for INR 7.1 million on January 29, 2020. In related transaction, Anupam Gupta and Abhay Narain Gupta entered into share purchase agreement to acquire 5.12% stake in Ind Renewable Energy Limited (BSE:536709) from Jitendra Kantilal Vakhariaon. Anupam Gupta and Abhay Narain Gupta made an offer of INR 9 per share to acquire 0.79 million shares representing 26.1% stake of Ind Renewable Energy Limited. Anupam Gupta and Abhay Gupta has sufficient liquid funds as on date to fulfill his monetary obligations under this open offer. Anupam Gupta and Abhay Narain Gupta have deposited INR 2 million in the escrow cash account payable to the equity shareholders under the offer. Upon the completion of agreement and tender offer, Anupam Gupta and Abhay Narain Gupta will hold 31.22% stake in Ind Renewable Energy Limited. As on June 15, 2020, committee of independent directors of Ind Renewable Energy recommended the shareholders to accept the offer. The date of commencement of tendering period is on March 26, 2020. The expiry of the tendering period is on April 13, 2020 and the last date of the completion of all requirements including payment is on April 28, 2020. As of March 20, 2020, the expiration date of the offer has been changed to April 16, 2020. As on June 20, 2020, the offer will commence on June 30, 2020 and will close on July 13, 2020. Vikas Chhangani of Navigant Corporate Advisors Ltd acted as manager to the offer for Anupam Gupta and Abhay Narain Gupta. Abhinav Kumar Agarwal and Abhijit Deb of Alankit Assignments Limited acted as registrar for the offer. Anupam Gupta and Abhay Narain Gupta completed the acquisition of 9.24% stake in Ind Renewable Energy Limited (BSE:536709) for INR 2.5 million on July 13, 2020. At the closing of the offer, Anupam Gupta and Abhay Narain Gupta purchased 0.28 million shares at the purchase price of INR 9 per equity share. Following acquisition, Anupam Gupta and Abhay Narain Gupta holds 14.36% stake in Ind Renewable Energy.