Rahul and Rohan Gupta signed a share purchase agreement to acquire 56.25% stake in Moongipa Securities Limited (BSE:539199) from Moongipa Capital Finance Limited (BSE:530167), Suresh Chander Jain, Sanjay Jain, Pooja Jain, Nirmal Jain and others for INR 47.9 million on August 20, 2021. Under the terms of transaction, Rahul Gupta and Rohan Gupta (“Acquirers”) will purchase 2.818 million shares representing 56.25% of the paid-up equity share capital of Moongipa Securities at a purchase price of INR 17 per equity share. Rahul Gupta will purchase 1.409077 million shares constituting 28.12% of the paid up equity share capital and Rohan Gupta will purchase 1.409076 million shares constituting 28.12% of the paid up equity share capital of Moongipa Securities.

Moongipa Capital Finance Limited will sell its entire shareholding of 0.81 million shares, constituting 16.18% of share capital of Moongipa Securities Limited. In a separate transaction, Rahul Gupta and Rohan Gupta made an open offer to acquire 26% stake in Moongipa Securities Limited (BSE:539199) for INR 22.145084 million. Acquirers have adequate resources and have made financial arrangements for financing of acquisition of equity shares.

Consideration for acquisition under SPA will be financed through internal resources. Transfer of holding of promoters is subject to approval of RBI. The agreement was approved by the Board of Moongipa Capital Finance Limited.

Corporate Professionals Capital Private Limited acted as manager for acquirers in the transaction.