Omkar Rajkumar Shivhare, Yogeeta Rajkumar Shivhare, and Ekadanta Genex Private Limited made an offer to acquire 26% stake in Fraser and Company Limited (BSE:539032) for INR 12.7 million on November 10, 2020. Under the terms of transaction, open offer is made for acquisition of up to 2.111278 million fully paid equity shares at the offer price of INR 6 per fully paid equity share. The entire consideration will be paid in cash. Following offer, Omkar Rajkumar Shivhare will own 20.33% stake, Yogeeta Rajkumar Shivhare will own 21.16% stake and Ekadanta Genex Private Limited will own 9.6% stake in Fraser and Company Limited. There are no statutory approvals required for the offer other than recommendation from Committee of Independent Directors to accept the offer, if any statutory approval that become applicable prior to completion of the offer, the offer would be subject to the receipt of such other statutory approvals that may become applicable at a later date. No approval is required from any bank or financial institutions for offer. As of January 6, 2021, the Committee of Independent Directors recommend shareholders to accept the offer. Fraser formulated a Committee of Independent Directors including Ashish Bangur as chairman and Ashish Kumar Tripathi and Avani Shah as members with regards to the transaction. The offer will commence on January 5, 2021 and will expire on January 18, 2021. As per announcement of December 31, 2020, the offer will commence on January 8, 2021, and will expire on January 21, 2021. Sarthak Vijlani of Navigant Corporate Advisors Limited acted as manager of the offer on behalf of acquirers. Deepali Dhuri of Purva Sharegistry (India) Pvt. Ltd. acted as a registrar to Fraser and Company Limited.