Sri Power Generation (India) Pvt Ltd. made an offer to acquire additional 40% stake in Megasoft Limited (BSE:532408) for INR 490 million on August 20, 2021. Under the terms Sri Power Generation (India) Pvt Ltd will acquire 29.5 million shares for INR 14.7 per share in cash. As of October 23, 2021, offer per share was increased to INR 16.7. In a related transaction Sri Power Generation (India) Pvt Ltd. entered into a share purchase agreement to acquire 1.22% stake from Jyothi Raju Chintalapati. Pre acquisition Sri Power Generation (India) Pvt Ltd. held 24.77% stake and Post completion will hold 65.99% stake in Megasoft Limited. The sources of funds for the acquirer are available cash and cash equivalents and its liquid securities. The offer is not subject to minimum level of acceptance. Offer is subject to acquisition of maximum 29.5 million shares. As of October 20, 2021, committee of independent directors approved the transaction. As per revised tender offer dates, tender offer will commence on October 26, 2021 and will end on November 10, 2021. As per revised tender offer dates, tender offer will commence on October 26, 2021 and will end on now November 16, 2021. Sreepriya of Cameo Corporate Services Limited acted as registrar and Brijmohan Bora of Trust Investment Advisors Private Limited acted as manager to Sri Power Generation (India) Pvt Ltd.