Gaurank Singhal and Aditya Singhal made an offer to acquire 25.2% stake in Kintech Renewables Limited (BSE:512329) for INR 30.2 million on August 19, 2021. Gaurank Singhal and Aditya Singhal are first cousins. Under the terms, Gaurank Singhal and Aditya Singhal will acquire up to 251,980 shares for INR 120 per share in cash. Gaurank Singhal and Aditya Singhal have deposited INR 7.56 million with YES Bank Limited acting as the escrow agent. In a related transaction, Gaurank Singhal and Aditya Singhal entered into share purchase agreement to acquire 74.8% stake in Kintech Renewables Limited from Jigar Jaswantlal Shah and Ambalal Chimanlal Patel for INR 89.8 million. Gaurank Singhal and Aditya Singhal have adequate resources and have made firm financial arrangements for financing the acquisition of the Equity Shares under the Offer. The additional fund requirement if any, for acquisition under this open offer will be financed through the internal resources. The offer is subject to receipt of the statutory and regulatory approvals. The offer is not subject to any minimum level of acceptance. No approval from any bank or financial institutions is required for the purpose of the offer. In the event of over-subscription to the Offer, the acceptance will be on a proportionate basis. On November 1, 2021, the independent committee of Kintech Renewables Limited comprising of Manoj Jain, Hemant Parikh and Rashmi Otavani believe that the offer is fair and reasonable. The shareholders should independently evaluate the offer and take informed decision. Offer will open on October 12, 2021 and closes on October 27, 2021. As on November 3, 2021, The offer price was revised and now offer commences on November 9, 2021 and ends on November 23, 2021. Manoj Kumar and Ruchika Sharma of Corporate Professionals Capital Private Limited acted as financial advisors to Gaurank Singhal and Aditya Singhal. Gaurank Singhal and Aditya Singhal appointed Punit Kumar Mittal of Beetal Financial & Computer Services Private Limited as registrar. Bharti Rana of Integrated Master Securities (Private) Limited acted as the broker. Gaurank Singhal and Aditya Singhal completed the acquisition of 25.2% stake in Kintech Renewables Limited (BSE:512329) for INR 23.87 million on November 23, 2021. Durng the offer period, Gaurank Singhal and Aditya Singhal acquired 0.198 million shares.