Ankit Agarwal, Managing Director of Alankit Limited, Alok Kumar Agarwal, Alka Agarwal, Pratishtha Garg, Sakshi Agarwal, Alankit Assignments Limited and Alankit Associates Pvt Ltd completed the acquisition of an additional 5.95% stake in Alankit Limited for approximately INR 280 million.
September 04, 2017
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Ankit Agarwal, Managing Director of Alankit Limited, Alok Kumar Agarwal, Alka Agarwal, Pratishtha Garg, Sakshi Agarwal, Alankit Assignments Limited and Alankit Associates Pvt Ltd made an offer to acquire an additional 26% stake in Alankit Limited (BSE:531082) from the public shareholders' for INR 1.2 billion on June 2, 2017. The buyers will acquire 37.17 million shares of Alankit Limited at INR 33.3 per share in cash. In a related transaction, Alankit Associates Pvt Ltd and Alankit Assignments Ltd. entered into share sale/purchase confirmation to acquire 37.78% stake in Alankit Limited from Newwave Commercial Private Limited and Diwakar Commercials Pvt. Ltd for approximately INR 650 million. Alka Agarwal already holds 1.2 million shares in Alankit Limited amounting to 0.84% stake and Ankit Agarwal already holds 4 million shares in Alankit Limited amounting to 2.8% stake. The buyers have adequate financial resources to meet the offer obligations.
The offer is not subject to any minimum level of acceptances. As of June 8, 2017, detailed public statement for the offer has been filled. The offer opens on July 25, 2017 and closes on August 7, 2017. On August 10, 2017, the offer is considered fair and reasonable by Committee of Independent Directors. The letter of offer has been filled. The offer opening date and closing date has been revised to August 22, 2017 and September 05, 2017 respectively. Manish Gaur of Mark Corporate Advisors Private Limited acted as the financial advisor to Alok Kumar Agarwal, Ankit Agarwal, Alka Agarwal, Pratishtha Garg, Sakshi Agarwal, Alankit Assignments Limited and Alankit Associates Private Limited.
Ankit Agarwal, Managing Director of Alankit Limited, Alok Kumar Agarwal, Alka Agarwal, Pratishtha Garg, Sakshi Agarwal, Alankit Assignments Limited and Alankit Associates Pvt Ltd completed the acquisition of additional 5.95% stake in Alankit Limited (BSE:531082) for approximately INR 280 million on September 5, 2017. As of September 5, 2017, 8.5 million shares were tendered.
Alankit Limited is an India-based company engaged in e-governance services and e-governance products trading and ancillary services related to e-governance business. The Companyâs segments include E-Gov Product, E-Gov Service and Financial Service. Its primary services include GST Suvidha Provider (GSP), TIN Facilitation Center and PAN Center, Aadhaar Services, Business Correspondent (BC), Distribution Agency for EESL, Distribution of ID Card Printers, Point of Presence-National Pension System (NPS), Facilitator-Atal Pension Yojana, Facilitator-NPCI, Indian Workers Resource Center (IWRC), Point of Service-National Skills Registry (NSR), Approved Person-National Insurance Policy Repository (NIR), and CRA-FC for NPS, among others. The Company, through its subsidiary Verasys Technologies Private Limited (Vsign), is providing products/services, including e-sign, paperless digital signature certificate (DSC), portable document format signer and encryption-decryption software.
Ankit Agarwal, Managing Director of Alankit Limited, Alok Kumar Agarwal, Alka Agarwal, Pratishtha Garg, Sakshi Agarwal, Alankit Assignments Limited and Alankit Associates Pvt Ltd completed the acquisition of an additional 5.95% stake in Alankit Limited for approximately INR 280 million.
ALANKIT LIMITED 
