V S Ranganathan,Vasanthy Ranganathan, Bindu K C, Kanakavally Prathapan Karumanthra, Mridula Mukundan and Sujith Venugopalan made an offer to acquire 30% stake in TTI Enterprise Limited (BSE:538597) from Kashyapi Advisors LLP, Vanshi Infra Projects LLP and Pragnay Advisors Llp for INR 72.4 million on September 20, 2021. Under the terms the Acquirers will acquire 7.6 million shares for offer price of INR 9.5 per share. consideration is financed from their own sources.

In a related transaction V S Ranganathan,Vasanthy Ranganathan, Bindu K C, Kanakavally Prathapan Karumanthra, Mridula Mukundan and Sujith Venugopalan entered into a Share Purchase Agreement to acquire 24.9% stake in TTI Enterprise Limited from group of sellers for INR 60.3 million on September 20, 2021. Post completion acquirers will hold 54.9% in TTI Enterprise Limited. This offer is subject to the receipt of statutory and regulatory approvals by the acquirers.

The transaction is subject to the approval of Reserve Bank Of India (RBI). The offer period commences on November 16, 2021 and ends on November 30, 2021. As of April 6, 2022, the offer period commences on April 19, 2022, and ends on May 2, 2022.

As of July 20, 2022 the offer period commences on September 1, 2022, and ends on September 14, 2022. The offer is not conditional upon any minimum level of acceptance. Tanmoy Banerjee and Pankita Patel of Capital Square Advisors Private Limited acted as financial advisors to the acquirers.

Deepali Dhuri of Purva Sharegistry (India) Private Limited acted as the Registrar to the offer.