Samir Choksi and Choksi Asia Private Limited made an offer to acquire an additional 26% stake in Choksi Imaging Limited (BSE:530427) for INR 35.5 million on September 29, 2021. Offerors will acquire 10,14,000 shares of Choksi Imaging Limited at a price of INR 35 per share in cash. In a related transaction, Samir Choksi and Choksi Asia Private Limited entered into a share purchase agreement to acquire a 14.67% stake in Choksi Imaging Limited from Manishkumar Mehta, Ninja Securities Pvt Ltd, Banhem Stock Broking Pvt Ltd, Kashmira Manish Mehta and others for INR 20 million on September 29, 2021. Pre transaction, Samir Choksi holds 86,565 shares representing 2.22% stake in Choksi Imaging Limited. Post completion of both the transactions, Offeror will hold 16,72,615 shares representing 42.89% stake in Choksi Imaging Limited. The Offer is a mandatory offer and is not conditional upon any minimum level of acceptance. No statutory approvals are required for the completion of Offer. As of November 25, 2021, Members of the Committee of Independent Directors (IDC) of Choksi Imaging Limited, which incudes, Himanshu Vasant Kishnadwala as Chairman, Tushar Madhuvandas Parikh and Shamanthakamani Prakash Sagarkatte, unanimously recommended to shareholders to accept the Offer.

Offer will expire on December 09, 2021. As per revised terms Offer will expire on December 13, 2021. Yash Kadakia of Fedex Securities Limited acted as financial advisor to Samir Choksi and Choksi Asia Private Limited. N. Surreash of Adroit Corporate Services Private Limited acted as registrar.