Karbhari Pandurang Dhatrak, Jayashree Karbhari Dhatrak and Chetan Karbhari Dhatrak proposed to acquire a 26% stake in Inertia Steel Limited (BSE:512025) for INR 56.1 million on June 3, 2024. A cash consideration of INR 56.06 million valued at INR 18 per share will be paid by the buyer. As part of the consideration, INR 56.06 million is paid towards the common equity of Inertia Steel Limited.

The transaction is subject to approval by the regulatory board/committee and approval of the merger agreement by the target board. The deal has been approved by the board. Navigant Corporate Advisors Limited (BSE:539521) acted as financial advisor to Karbhari Pandurang Dhatrak, Jayashree Karbhari Dhatrak and Chetan Karbhari Dhatrak. ADROIT CORPORATE SERVICES PRIVATE LIMITED acted as registrar to the offerors.