Jonna Venkata Tirupati Rao made an offer to acquire 26% stake in Stampede Capital Limited (BSE:531723) for INR 35 million on July 8, 2020. Jonna Venkata Tirupati will acquire 74.4 million shares comprising of 59.5 million fully paid-up equity shares at INR 0.45 per share and 14.9 million differential voting right shares at INR 0.55 per share in cash. Jonna Venkata Tirupati Rao confirms that it has adequate financial resources to meet its obligations under the offer and has made firm financial arrangements for acquisition of the offer shares. In a related transaction, Jonna Venkata Tirupati Rao entered into a share purchase agreement to acquire 0.25% stake in Stampede Capital Limited from Usha Rani Meenavalli. The completion of the offer is subject to receipt of required regulatory and statutory approvals (SEBI, BSE, NSE, MSCI and ICEX). The offer is not conditional upon any minimum level of acceptance. As of September 22, 2020, the Committee of Independent Directors of Stampede Capital recommended the offer to the shareholders of Stampede Capital. The Committee of Independent Directors consisted of Satya Srikanth Karaturi, Venkata Krishnayya Nekkanti, Chukka Lakshmi and Chukka Siva Satya Srinivas. The tendering period will commence from August 28, 2020. The offer period will close on September 10, 2020. As of September 17, 2020, offer period has been extended to October 9, 2020. Varshika Sarda and Narendra Kumar Gamini of Ashika Capital Limited acted as financial advisors and N N V Satish of N N V Satish & Co., Chartered Accountants acted as the accountant for Jonna Venkata Tirupati Rao. Venture Capital And Corporate Investments Private Limited acted as registrar to Stampede Capital. Jonna Venkata Tirupati Rao completed the acquisition of 1.1% stake in Stampede Capital Limited (BSE:531723) for INR 1.4 million on October 9, 2020. Under the transaction, 3.2 million of Equity Shares were tendered and accepted and 250 shares of DVR Shares tendered and accepted.