Gaurav Goel, Rakesh Kumar Goyal, Saurabh Goel and Harsh Gupta made an offer to acquire a 26% stake in Delta Industrial Resources Limited (BSE:539596) from public shareholders for INR 12.9 million on May 18, 2022. As part of the transaction, Gaurav Goel, Rakesh Kumar Goyal, Saurabh Goel, and Harsh Gupta will acquire 1,402,180 shares at an offer price of INR 9.2 per share. In a related transaction, Gaurav Goel, Rakesh Kumar Goyal, Saurabh Goel and Harsh Gupta singed a share purchase agreement to acquire a 25.31% stake in Delta Industrial Resources Limited from Pawan Kumar Mittal, Kiran Mittal and Pawan Kumar Mittal HUF for INR 12.6 million on May 18, 2022. The offer is not conditional upon any minimum level of acceptance in accordance with Regulation 19(1) of the SEBI (SAST) Regulations. All members of committee of independent directors of Delta Industrial Resources Limited unanimously recommended that offer is fair and reasonable. The offer will close on July 18, 2022. As of July 8, 2022, the offer will commence on June 19, 2022 and will end on August 1, 2022.

Tanmoy Banerjee of CapitalSquare Advisors Private Limited acted as manager of the offer and Rati Gupta of Skyline Financial Services Pvt Ltd acted as registrar of the offer for Gaurav Goel, Rakesh Kumar Goyal, Saurabh Goel and Harsh Gupta.

Gaurav Goel, Rakesh Kumar Goyal, Saurabh Goel and Harsh Gupta canceled the offer to acquire a 26% stake in Delta Industrial Resources Limited (BSE:539596) from public shareholders on August 1, 2022.