Vineet Bajpai, Agam Gupta and Sanyam Jain made an Open offer to acquire 26% stake in Beryl Securities Limited (BSE:531582) from shareholders for INR 17 million on May 2, 2023. Under the terms of offer, Acquirers agree to acquire 1.3 million shares and agreed to pay in cash of INR 13.5 per share. Acquirers has adequate financial resources to meet the offer obligations.

In related transaction, Vineet Bajpai, Agam Gupta and Sanyam Jain entered into a Share Purchase Agreement to acquire 52.4% stake in Beryl Securities Limited from group of shareholders for INR 7.4 million on May 2, 2023. This offer is not conditional upon any minimum level of acceptance and is not a competitive bid in terms of Regulation 20 of the Regulations. As per the SPA, the existing promoters?

shares will be transferred to the Acquirers upon completion of the Open Offer and we are filing disclosure in the manner as provided under SEBI (SAST) Regulations, 2011 and SEBI (Insider Trading) Regulations. The Details of the open offer would be published in the newspapers vide a Detailed Public Statement (?DPA?) on or before May 10, 2023.The tendering period will commence on August 21, 2023 and close on September 01, 2023. Trading Members and Custodians are requested to note that, Interactive Financial Services Limited (?Manager to the Offer?) for and on behalf of Acquirers has informed to the Exchange that the target company has not yet received the Reserve Bank of India?s approval for change in control and management of the target company (RBI approval).

Manager to the Offer has requested the Exchange to keep the settlement of securities and funds of the offer on hold till further notice due to non-receipt of RBI approval on the scheduled acceptance date. Interactive Financial Services Limited acted as Manager to the Offer on behalf of the Acquirers. Adroit Corporate Services Private Limited acted as Registrar to the Offer on behalf of the Acquirers.