Prafulchandra Patelo, Jashvantbhai Patel and Mr. Hiren patel made an offer to acquire 26% stake in Aryavan Enterprise Limited (BSE:539455) for INR 7.5 million on January 4, 2023. In a related transaction, Prafulchandra Patelo, Jashvantbhai Patel and Mr. Hiren patel entered into share purchase agreement to acquire 59.64% stake from Parikshit Mahatma and Sangita Jain. As of April 19, 2023, Committee of Independent Directors unanimously recommended the offer is fair and reasonable.

The offer will expire on May 8, 2023. Interactive Financial Services Limited acted as a manger to the offer. Purva Sharegistry (India) Pvt.

Ltd. acted as transfer agent, and NNM Securities Private Limited acted as depository participant for Aryavan.