Madhusudan Lakhotia, Jayshree Lakhotia, Shyamsunder Lakhotia and Kanchandevi Lakhotia made an offer to acquire 26.01% stake in Lakhotia Polyesters (India) Limited (BSE:535387) for INR 32.68 million on March 9, 2023. As per the terms, the offer per share is INR 12. The consideration will be satisfied with cash.

The acquisition will be financed through internal resources and no funds are borrowed from banks or financial institution for the purpose of this Open Offer. The offer will commence from May 9, 2023, and will close on May 22, 2023. As of May 5, 2023, The offer will commence from May 15, 2023, and will close on May 26, 2023.

Aryaman Financial Services limited acted as the manager to the offer. Cameo Corporate Services Limited acted as the registrar to the offer.