Anupam Rasayan India Limited (BSE:543275) made an offer to acquire a 26% stake in Tanfac Industries Limited (BSE:506854) for INR 1.5 billion on February 1, 2022. Offeror to acquire 25,93,500 Tanfac Industries Limited shares at a price of INR 595 per share in cash. In a related transaction, Anupam Rasayan India Limited signed a share purchase agreement to acquire a 24.96% stake in Tanfac Industries Limited from Pilani Investment and Industries Corporation Limited (NSEI:PILANIINVS), Birla Group Holdings Private Limited and Askaran Aggrawal for INR 1.5 billion on February 1, 2022. Offeror has also been sanctioned a term loan facility of INR 1.25 billion Axis Capital Finance Limited and a term loan facility of INR 1.25 billion by Standard Chartered Capital Finance, which will be used to fund the Offer. The Open Offer is not conditional upon any minimum level of acceptance. There are no statutory or other approvals required to acquire the Offer Shares. Offer will open on March 28, 2022 and will close on April 8, 2022. As of April 13, 2022, offer will open on April 22, 2022 and close on May 6, 2022. Neetu Ranka and Lokesh Shah of Edelweiss Financial Services Limited (NSEI:EDELWEISS) acted as financial advisor to Anupam Rasayan India Limited. Sumeet Deshpande of Link Intime India Pvt. Ltd. acted as registrar to Anupam Rasayan India Limited.

Anupam Rasayan India Limited (BSE:543275) completed the acquisition of 0.83% stake in Tanfac Industries Limited (BSE:506854) for INR 49.5 million on May 6, 2023.