W.H. Brady & Company Limited (BSE:501391), Shivum Holdings Pvt Ltd, Pavan Morarka, Vaibhav Morarka and Rachna Morarka made an offer to acquire remaining 26.25% stake in Brady & Morris Engineering Company Limited (BSE:505690) from the public shareholders for INR 47.3 million on July 6, 2020. As per terms of the transaction, 0.59 million shares will be acquired at INR 80 per share. Upon completion, Brady & Morris Engineering Company Limited will be delisted from BSE Limited.

The transaction is subject to approval from the shareholders of Brady & Morris Engineering Company Limited, stock exchanges or any other regulatory or statutory authorities, as may be required, minimum number of 90% equity shares being tendered for delisting. The Board of Directors of W.H. Brady & Company Limited and Brady & Morris Engineering Company approved the transaction on July 9, 2020. INR 36.5 million deposited into Escrow bank.

On September 11, 2020, BSE approved the offer. The transaction is approved by shareholders of Brady & Morris. As of September 21, 2020, an offer for Voluntary Delisting of Equity Shares is made by Shivum Holdings Private Limited.

Atul Chokshi of Kunvarji Finstock Private Ltd. acted as due diligence provider and manager and Jibu John of Bigshare Services Private Limited acted as registrar to W.H. Brady, Shivum Holdings Pvt Ltd, Pavan Morarka, Vaibhav Morarka and Rachna Morarka.