Lovely Ghanshyam Mutreja, Kirit Ghanshyam Mutreja, Lalita Ghanshyam Mutreja made an open offer to acquire a 26% stake in Indsoya Limited for INR 2.91 million.

Lovely Ghanshyam Mutreja, Kirit Ghanshyam Mutreja, Lalita Ghanshyam Mutreja made an open offer to acquire a 26% stake in Indsoya Limited for INR 2.91 million on March 21, 2022. Under the terms, Lovely Ghanshyam Mutreja, Kirit Ghanshyam Mutreja, Lalita Ghanshyam Mutreja will acquire 0.104 million shares of Indsoya. In a related transaction, Lovely Ghanshyam Mutreja, Kirit Ghanshyam Mutreja, Lalita Ghanshyam Mutreja also entered into a share purchase agreement to acquire 57.41% stake in Indsoya Limited from Sarita R. Mansingka and Divansh Mansingka for INR 6.43 million on March 21, 2022.

Upon completion of these transactions, acquirers will hold 333,640 shares, representing 83.41% stake. This offer is not conditional upon any minimum level of acceptance and is subject to approval of Reserve Bank of India. The offer will open on May 17, 2022 and close on May 30, 2022.

Sarthak Vijlani of Navigant Corporate Advisors Limited acted as manager to offer and Sumeet Deshpande of Link Intime India Private Limited acted as registrar to offer.