Prabhat Capital Investments Limited entered into a share purchase agreement to acquire 3.1% stake in Esaar Limited from Dheeraj Shah for INR 3.2 million.

Prabhat Capital Investments Limited entered into a share purchase agreement to acquire 3.1% stake in Esaar (India) Limited (BSE:531502) from Dheeraj Shah for INR 3.2 million on September 21, 2023. Prabhat Capital agreed to purchase 634,688 Equity Shares of Esaar representing 3.10% of the Voting Share Capital at INR 5 per Equity Share for an aggregate consideration of INR 3,173,440. In a related transaction, Prabhat Capital Investments Limited made an open offer to acquire 26% stake in Esaar (India) Limited for INR 26.6 million.

The transaction is subject to the approval of the Reserve Bank of India (?RBI?) under the Non-Banking Financial Companies.