Dhruv Gupta and Meenakshi Gupta made an open offer to acquire a 25% stake in Kintech Renewables Limited (BSE:512329) for approximately INR 450 million on April 3, 2023. The offer price is INR 450 cash per share. Pursuant to transaction, offerors will acquire 1 million shares, representing 25% in expanded share capital of Kintech Renewables.

In a related transaction, Dhruv Gupta and Meenakshi Gupta entered into a share purchase agreement to acquire 75% stake in Kintech Renewables Limited from Gaurank Singhal and Aditya Singhal for approximately INR 230 million on April 3, 2023. The offer is not conditional upon any minimum level of acceptance. The offer will open on September 8, 2023, and close on September 22, 2023.

This offer is subject to the receipt of the statutory and other approvals. Manoj Kumar and Ruchika Sharma of Corporate Professionals Capital Private Limited acted as manager to offer on behalf of offerors. Punit Kumar Mittal of Beetal Financial & Computer Services Private Limited acted as registrar to the offerors.