Sanjay kumar Agarwal and Vimla Metcoke Limited made an offer to acquire 26% stake in Rishab Special Yarns Limited for INR 5.09 million on March 8, 2022. Under the terms the offer price is INR 5.5 per share for 0.925 shares. In a related transaction Sanjay kumar Agarwal and Vimla Metcoke Limited agreed to acquire 44% stake in Rishab Special Yarns Limited for INR 8.6 million on March 8, 2022.

As per the filing on May 25, 2022, The transaction is subject to approval of committee of independent Directors which is going to be held on June 1, 2022. As of May 27, 2022, the offer per share for the tender offer is increased to INR 5.85. The offer is not subject to any minimum level of acceptance.

Offer is expected to close on May 18, 2022. The transaction is expected to close on June 17, 2022. Alka Mishra of Oneview Corporate Advisors Pvt.

Ltd. acted as financial advisor to Sanjay kumar Agarwal and Vimla Metcoke Limited.