Ankit Tayal and Mohit Sharma made an offer to acquire 26% stake in Rahul Merchandising Limited (BSE:531887) for an offer per share of INR 8.5 on March 31, 2023. In a related transaction, Ankit Tayal and Mohit Sharma will acquire 28.66% stake in Rahul Merchandising from Suresh Mansharamani, Uma Mansharamani and Reliable Engineering Private Limited. The transaction is expected to close on July 28, 2023.

Swaraj Shares and Securities Private Limited acted as financial advisor to the acquirers.