9Anium Tech LLP, GAUTAM K. SHAH, VISHWANATHAN V. IYER, SHUBRA T. SINGH, and BEENA M. SHAH made an offer to acquire a 26% stake in Rajath Finance Limited (BSE:507962) for INR 13.62 million on September 29, 2022. A total of 1.04 million shares will be acquired at INR 13.11 each. Acquirer have sufficient resources to meet the fund requirement for the obligation of Open Offer of the Target Company which shall be met through internal accruals. In related transaction, 9Anium Tech LLP signed an share purchase agreement to acquire a 69.7% stake in Rajath Finance Limited for INR 36.6 million on September 29, 2022. The Acquirer intends to take control over the Target Company and would appoint Gautam K. Shah, Prakash D. Shah and Sarat K. Malik as additional directors on the Board of Directors of the Target Company. The transaction is subject to approval from Reserve bank Of India. s Open Offer is not conditional upon any minimum level of acceptance. On February 23, 2023, RBI has granted in-principle prior approval for the proposed change in management and the proposed acquisition of control viz. acquiring shares of the Target Company by 9Anium Tech LLP. Acquirer and PAC's shall not be eligible to make a voluntary delisting offer under the SEBI unless a period of twelve months have elapsed from the date of completion
The tendering period will commence on November 23, 2022, and close on December 6, 2022. The tender offer will now commence on March 17, 2023 and will close on April 3, 2023.


Vivro Financial Services Private Limited acted as financial advisor to 9Anium Tech LLP, GAUTAM K. SHAH, VISHWANATHAN V. IYER, SHUBRA T. SINGH, and BEENA M. SHAH and Link Intime India Pvt. Ltd. acted as registrar to 9Anium Tech LLP, GAUTAM K. SHAH, VISHWANATHAN V. IYER, SHUBRA T. SINGH, and BEENA M. SHAH.

9Anium Tech LLP, GAUTAM K. SHAH, VISHWANATHAN V. IYER, SHUBRA T. SINGH, and BEENA M. SHAH cancelled the acquisition of a 26% stake in Rajath Finance Limited (BSE:507962) on April 3, 2023.