Prabhat Capital Investments Limited made an open offer to acquire 26% stake in Esaar (India) Limited (BSE:531502) for INR 26.6 million on September 21, 2023. As part of the offer, Prabhat Capital will acquire up to 5,315,050 equity shares of Esaar (India) at an offer price of INR 5 per Equity Share, representing up to 26% of the Voting Share Capital of Esaar (India). In a related transaction, Prabhat Capital Investments Limited entered into a share purchase agreement to acquire 3.1% stake in Esaar (India) Limited at INR 5 per Equity Share. The transaction is subject to the approval of the Reserve Bank of India (?RBI?) under the Non-Banking Financial Companies. Transaction is expected to complete on December 1, 2023.

Fedex Securities Private Limited acted as financial advisor to Prabhat Capital. Purva Sharegistry (India) Pvt. Ltd. acted as Registrar to the Open Offer.