Jupiter Capital Private Limited entered into share purchase agreement to acquire 57.9% stake in TRC Financial Services Limited from Vijay Mario Sebastian Misquitta and Ajay Dilkush Sarupria for INR 52.1 million on January 16, 2017. Under the terms of the agreement, Jupiter Capital will acquire 2.9 million shares in cash. Currently, Vijay Mario Sebastian Misquitta and Ajay Dilkush Saruprian hold 1.4 million and 1.5 million shares respectively. In a related transaction, Jupiter Capital made an open offer to acquire 25.96% stake in TRC Financial Services Limited (BSE:511730) for INR 23.4 million in cash. As of January 31, 2017, draft letter of offer has been submitted for open offer transaction. The agreement may be terminated if the parties fail to comply with the provisions of the takeover regulations, Jupiter Capital does not receive the necessary statutory approvals, including the Reserve Bank of India approval, or the promoters/sellers breaching any provision of the agreement.