Vinita Raj Narayanam made an offer to acquire a 26% stake in Punit Commercials Limited (BSE:512099) for INR 4.1 million on November 1, 2021. Under the Offer, Vinita Raj Narayanam will acquire 62,400 shares at a price of INR 65 per share in cash. In a related transaction, Vinita Raj Narayanam entered into a share purchase agreement to acquire a 73.66% stake in Punit Commercials Limited from Sakshi Nirav Mehta, Priya Nirav Mehta, Nirav Prabodh Mehta, Purnima Prabodh Mehta and Subir Diamonds Private Limited for INR 11.5 million on November 1, 2021. The Offeror has made firm financial arrangements for financing the acquisition of the Offer Shares. The Offer is not conditional upon any minimum level of acceptance. The deal is subject to statutory and regulatory approvals. The offer period begins from December 27, 2021 to January 7, 2022. The revised period begins from December 16, 2021 to December 29, 2021. Tanmoy Banerjee and Pankita Patel of CapitalSquare Advisors Private Limited acted as financial advisors to Vinita Raj Narayanam. VENTURE CAPITAL AND CORPORATE INVESTMENTS PRIVATE LIMITED acted as registrar to Vinita Raj Narayanam in the deal. CapitalSquare Advisors Private Limited acting as a manager to Vinita Raj Narayanam for the offer.

Vinita Raj Narayanam completed the acquisition of 0.08% stake in Punit Commercials Limited (BSE:512099) on December 29, 2021.