Hindon Mercantile Limited and Kapil Garg made an offer to acquire 26% stake in APM Finvest Limited (BSE:542774) for INR 270 million on November 27, 2021. As per terms, Hindon Mercantile Limited and Kapil Garg shall acquire 5.618954 million equivalent to 26% stake at an offer price of INR 47.5 per share to be maid in cash. On November 27, 2021, Hindon Mercantile Limited and Kapil Garg have signed a share purchase agreement to acquire 67.7% stake which triggered this transaction.

Hindon Mercantile Limited is controlled and promoted by Kapil Garg and Rajat Goyal. Post completion of Offer and share purchase the acquirer will hold 93.75% stake. Tender offer period will commence from January 14, 2022 and will close on January 28, 2022.

The offer is subjected to the approval from Reserve bank of India. D & A Financial Services (P) Limited acting as a Manager to the offer. Skyline Financial Services Private Limited acting as a registrar and Mansukh Stock Brokers Limited anting as a broker to the offer.