Bhasker K Bhatt, Pathika B Bhatt, Madhav B Bhatt and Rohan Rajendra Bhatt made an offer to acquire a 26% stake in Aarv Infratel Limited for INR 4.3 million on February 4, 2022. Offerors to acquire 11,93,202 shares of Aarv Infratel Limited at a price of INR 3.6 per share in cash. In a related transaction, Bhasker K Bhatt, Pathika B Bhatt, Madhav B Bhatt and Rohan Rajendra entered into a share purchase agreement to acquire a 50.53% stake in Aarv Infratel Limited from Anita Sakuru and Raghuveer Sakuru for INR 8.3 million on February 4, 2022. This offer is not conditional upon any minimum level of acceptance. The Offerors have no intentions to delist the equity shares of Aarv Infratel Limited and intend to retain listed status on BSE Limited. Pursuant to this offer there are no statutory approvals required by the acquirers other than an approval of the Reserve Bank of India. As of March 24, 2022, the proposal has been unanimously approved by Aarv Infratel's Committee of Independent Directors ("IDC"). The transaction is expected complete on April 13, 2022. As of March 24, 2022, offer will open on April 04, 2022 and close on April 19, 2022. S Ramakrishna Iyengar of Finshore Management Services Limited acted as financial advisor and Venture Capital and Corporate Investments Private Limited acted as registrar to Bhasker K Bhatt, Pathika B Bhatt, Madhav B Bhatt and Rohan Rajendra Bhatt.

Bhasker K Bhatt, Pathika B Bhatt, Madhav B Bhatt and Rohan Rajendra Bhatt completed the acquisition of a 24.03% stake in Aarv Infratel Limited for INR 4 million on April 19, 2022.