Frontline Holdings Pvt Ltd and Evernew Commodeal Private Limited and other investors made a bid to acquire 26% stake in Dhanashree Electronics Ltd. for INR 44.3 million on July 25, 2016. The consideration will be paid in cash at INR 12 per share. The other investors are Madan Gopal Maheshwari HUF, Madan Gopal Maheshwari, Sumitra Devi Toshniwal, Chand Prakash Tochniwal, Chand Prakash Tochniwal & Sons HUF, Durga Devi Toshniwal, Santosh Kumar Toshniwal, Veena Devi Toshniwal, Nitesh Toshniwal, Abhishek Toshniwal, Yogita Toshniwal, Saket Toshniwal, Pawan Toshniwal and Nand Lal Toshniwal & Sons Co HUF. Frontline Holdings Pvt Ltd and Evernew Commodeal Private Limited and other investors completed the acquisition of 0.01% stake in Dhanashree Electronics Ltd. for INR 0.01 million on November 11, 2016. Only 900 shares were acquired in the offer as opposed to the targeted 3.69 million shares. The date of opening of the offer was October 20, 2016, and the offer closed on November 3, 2016. Date of payment of consideration was November 11, 2016. VC Corporate Advisors Private Limited acted as manager to the offer and acted on behalf of the buyers. Maheshwari Datamatics Private Limited acted as registrar to the offer.