Jose Charles Martin made an offer to acquire an additional 26.03% stake in SDC Techmedia Limited (BSE:535647) for INR 23.7 million on December 6, 2019. As per terms of the transaction, Jose Charles Martin will acquire 1.69 million shares at INR 14 per share. The funds required in relation to the offer have been met from funds from the own funds of the Acquirer. In a related transaction, Jose Charles Martin agreed to acquire an additional 5.08% stake in SDC Techmedia Limited (BSE:535647) for INR 4.6 million from Usman Faheed on December 6, 2019. The transaction is not subject to receipt of statutory approvals. This offer is not conditional upon any minimum level of acceptance in terms of Regulation 19 of the Takeover Regulations. The Committee of Independent Directors of the Board of the Target Company, will come out with their recommendations for the Offer. As on March 30, 2020, the committee of independent directors of SDC Techmedia Limited recommend its shareholder that the Offer is fair and reasonable. The tender offer will commence on January 29, 2020 and will close on February 11, 2020. As of March 20, 2020, the offer will run from March 31, 2020 to April 17, 2020. Amit Wagle and Gaurav Khandelwal of Saffron Capital Advisors Private Limited acted as offer managers and Choice Equity Broking Private Limited acted as broker to Jose Charles Martin. Deepali Dhuri of Purva Share Registry (India) Private Limited acted as registrar in the offer.