Vishal Thakkar made an open offer to acquire a 26% stake in The Indian Link Chain Manufactures Limited (BSE:504746) for INR 9.4 million on December 3, 2022. The offer has been made for 13,000 share, representing 26% stake at per share price INR 720 in cash. In a related transaction, Vishal Thakkar entered into a share purchase agreement to acquire 54.98% stake in The Indian Link Chain Manufactures Limited (BSE:504746) from a group of sellers for INR 19.8 million on December 3, 2022.

The transaction will be financed from Vishal Thakkar's own funds. The open offer is not conditional upon any minimum level of acceptance and also not a competing offer. The offer period will commence on January 24, 2023 and close on February 07, 2023.

As of February 4, 2023, the tender offer will commence on February 14, 2023, and close on February 27, 2023. As of February 9, 2023, IDC members are of the view the offer is fair and reasonable. Yash Kadakia and Saipan Sanghvi of Fedex Securities Private Limited acted as manager to offer and Sumeet Deshpande of Link Intime India Private Limited acted as registrar to the offer on behalf of Vishal Thakkar.