Shreekant Somany, Abhishek Somany and Shrivatsa Somany made an offer to acquire 26% stake in Schablona India Limited (BSE:507894) for INR 19 million on November 14, 2017. Shreekant Somany, Abhishek Somany and Shrivatsa Somany will acquire 0.82 million shares for INR 23.12 per share in cash. Pre deal, Shreekant Somany held 0.43 million shares while Abhishek Somany and Shrivatsa Somany did not have any holding in Schablona. Post completion, Shreekant Somany, Abhishek Somany and Shrivatsa Somany will each own 0.59 million shares of Schablona. In a related transaction Shreekant Somany, Abhishek Somany and Shrivatsa Somany entered into an agreement to acquire 42.37% stake in Schablona India Limited (BSE:507894) from Bhilwara Holdings Ltd and Sarvottam Vanijya Ltd for INR 18.7 million on November 24, 2017. Acquirers have adequate financial resources to meet the offer obligations. The offer is subject to receipt of statutory approvals, if applicable. The offer is not conditional upon any minimum level of acceptance. The tender offer is expected to start on January 17, 2018 and to close on January 31, 2018. As of March 5, 2018, an Independent Directors Committee comprising of Vinod Kumar Karwa and Abha Kabra under the chairmanship of Vinor Kumar Karwa has been established to provide recommendation on offer. As of March 7, 2018, Independent Directors Committee believes that the offer price is fair and reasonable. As on March 7, 2018, tender offer period will close on March 26, 2018. Anchal Lohia of SPA Capital Advisors Limited acted as manager to the offer on behalf of Shreekant Somany, Abhishek Somany and Shrivatsa Somany. Maheshwari Datamatics Pvt Ltd acted as registrar to Shreekant Somany, Abhishek Somany and Shrivatsa Somany. Shreekant Somany, Abhishek Somany and Shrivatsa Somany completed the acquisition of 5.8% stake in Schablona India Limited (BSE:507894) for INR 4.2 million on March 26, 2018. Shreekant Somany, Abhishek Somany and Shrivatsa Somany acquired 0.18 million shares under the tender offer. Shreekant Somany, Abhishek Somany and Shrivatsa Somany acquired 0.06 million each shares representing 1.94% stake. Post completion of offer, Shreekant Somany, Abhishek Somany and Shrivatsa Somany held 0.65 million shares each representing 20.61% stake in Schablona India Limited.