Accord Distillers & Brewers Private Limited, Teyro Labs Private Limited, Jam Hotels and Resorts Private Limited along with Sundeep Anand Jegath Rakshagan entered into a Share Purchase Agreement to acquire 73.28% stake in Coromandel Engineering Company Limited from group of sellers for approximately INR 330 million.

Accord Distillers & Brewers Private Limited, Teyro Labs Private Limited, Jam Hotels and Resorts Private Limited along with Sundeep Anand Jegath Rakshagan entered into a Share Purchase Agreement to acquire 73.28% stake in Coromandel Engineering Company Limited (BSE:533167) from group of sellers for approximately INR 330 million on September 29, 2023. As per the transaction, Accord Distillers & Brewers Private Limited, Teyro Labs Private Limited, Jam Hotels and Resorts Private Limited and Sundeep Anand Jegath Rakshagan will acquire 24.3 million shares at INR 13.5 per share. As on December 21, 2023, parties to the agreement executed an amendment to the Share Purchase Agreement.

Prem Rajani and Poorvi Sanjanwala of Rajani Associates acted as legal advisor to Sundeep Anand Jegath Rakshagan, Accord Distillers & Brewers Private Limited,Teyro Labs Private Limited and Jam Hotels and Resorts Private Limited.