Daksha Narendrabhai Trivedi, Prakashbhai Haribhai Kanani, Devising Tejba Hathal and Jaykumar Vasudevbhai Sadariya made an offer to acquire 26% stake in Kachchh Minerals Limited (BSE:531778) for INR 11 million on October 14, 2021. As per terms, buyers shall acquire 1.378 million shares at INR 8 per share for the consideration to be paid in cash. Daksha Narendrabhai Trivedi, Prakashbhai Haribhai Kanani, Devising Tejba Hathal are Non Executive Directors of Kachchh Minerals Limited and does not hold any stake.

The tender offer period will commence from December 13, 2021 and will close on December 24, 2021. The transaction is not subjected to any minimum level of acceptance. In Another transaction, the acquirers entered into share purchase agreement to acquire 20 million stake in Kachchh Minerals equivalent to 37.73% stake.

Revised Tender offer period commences on February 25, 2022 and closes on March 11, 2022. As on February 22, 2022, IDC members recommended the transaction. Ashi Sood and Ridima Gulati of Sundae Capital Advisors Private Limited acting as a manager for the transaction.

Arvind Tandel of Bigshare Services Private Limited acting as a registrar. Eureka Stock & Share Broking Services Limited acting as a broker appointed by acquirer.