Pankajkumar Ranchhoddas Ruparel, Vishal Ruparel, Ruparel Shyam Pankajbhai and Ruparel PankajKumar Ranchhoddas (buyers) made an offer to acquire 26% stake in Mehta Housing Finance Limited (BSE:511740) for INR 8 million on November 5, 2020. Under the terms of the offer, the buyers will acquire 0.8 million shares in Mehta Housing for INR 10 per share in cash. In a related transaction, buyers entered into a share and purchase agreement to acquire 72.54% stake in Mehta Housing Finance Limited on November 5, 2020. The offer will be financed from internal resources of buyers and no borrowings from any bank or financial institution are envisaged. A special committee of Independent Directors of Mehta Housing has been formed in respect of the transaction. The deal is not conditional on any minimum level of acceptances. As of January 20, 2021, the transaction has been approved by the Independent Committee of Directors of Mehta Housing Finance. The offer will commence on December 31, 2020 and will expire on January 13, 2021. As on January 15, 2021, The offer period was revised and now it will commence on January 22, 2021 and will expire on February 5, 2021. Kunvarji Finstock Private Limited appointed as manager to the offer and Purva Sharegistry (India) Pvt. Ltd as the registrar to the offer by the buyers.