Sarita Sequeira and CR Rajesh Nair made an open offer to acquire a 25.86% stake in Sarda Papers Limited (BSE:516032) from public shareholders for INR 2.42 million on June 3, 2022. As part of the transaction, Sarita Sequeira and CR Rajesh Nair will acquire 806,602 shares, representing 25.86% stake in Sarda Papers at a price of INR 3 per share totaling INR 2.42 million. In a related transaction, Sarita Sequeira and CR Rajesh Nair entered into a Share Purchase Agreement to acquire a 74.14% stake in Sarda Papers Limited from Kamini Kamal Johari, Kartik Kamal Johari, Ladage Manish Dharanendra and Nallepilly Ramaswami Parameswaran for INR 6.9 million. Upon completion of SPA and offer acquirers will own a 100% stake in Sarda Papers. The acquirers have adequate financial resources and have made firm financial arrangements for the implementation of the transaction. The transaction is subject to statutory approval and is not conditional upon any minimum level of acceptance. As per update on July 10, 2022, the offer period will commence from July 19, 2022 to August 1, 2022. As per update on July 22, 2022, The offer period will commence from August 2, 2022 to August 18, 2022. Tanmoy Banerjee of CapitalSquare Advisors Private Limited acted as manager of the offer to Sarita Sequeira and CR Rajesh Nair. Deepali Dhuri of PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED acted as registrar to Sarita Sequeira and CR Rajesh Nair.

Sarita Sequeira and CR Rajesh Nair completed the acquisition of a 25.86% stake in Sarda Papers Limited (BSE : 516032) on August 18, 2022.