Shaju Thomas and Linta P Jose entered into a share purchase agreement to acquire 21.61% stake in Archana Software Limited (BSE:530565) from S Vasanthkumar for INR 5 million on June 29, 2023. As reported, Shaju Thomas and Linta P Jose have agreed to purchase 13,11,101 equity shares in Archana Software Limited at a price of INR 3.78 per equity share, payable in cash. Following the completion of SPA, Shaju Thomas will own 16.21% stake, Linta P Jose will acquire 5.4% stake while S Vasanthkumar will not hold any shares in Archana Software Limited.

Pursuant to the execution of the SPA, Shaju Thomas and Linta P Jose are required to make an open offer to public shareholders of Archana Software Limited. The proposed transaction is subject to certain conditions precedent in the SPA