Amarjit Singh Kalra made an offer to acquire an additional 26% stake in Aurum Soft Systems Limited (BSE:530885) for INR 16.6 million on January 13, 2017. Under the terms of transaction, Amarjit will acquire 16.93 million shares at INR 0.98 per share. In a related transaction, Amarjit Singh Kalra entered into a share and purchase agreement to acquire an additional 31.45% stake in Aurum Soft Systems Limited from Shripathee Investments Private Limited and Srikanth Ramanatham for INR 18.4 million. The offer is not subject to any minimum level of acceptance. Completion of transaction is subject to receipt of statutory approvals. Anchal Lohia of SPA Capital Advisors Limited acted as Manager and Punit Mittal of Beetal Financial & Computer Services Private Limited acted registrar to Amarjit Singh Kalra. As on March 31, 2017, the tender offer will commence on April 10, 2017 and close on April 24, 2017. As of April 1, 2017, Board of Directors of Aurum Soft has constituted the independent directors committee consists of V. Ganapathi Subramanian, K.S. Vaidyanathan and K balaji to provide recommendation on offer. Deal was approved by the Board of Directors of Aurum Soft Systems on April 3, 2017. The offer will run from March 8, 2017 to March 22, 2017. Amarjit Singh Kalra completed the acquisition of an additional 2.3% stake in Aurum Soft Systems Limited (BSE:530885) for INR 1.5 million on May 4, 2017. Upon completion of offer and subsequent share purchase agreement, Amarjit Singh Kalra holds 53.03% stake in Aurum Soft Systems.