Vasantrai Ratilal Mehta made an offer to acquire 26% stake in Inertia Steel Limited for INR 0.65 million on September 29, 2022. As per the terms, The offer price is INR 10 per share for 64,688 shares. In a related transaction, Vasantrai Ratilal Mehta entered into a Share and purchase agreement to acquire 6.43% stake in Inertia Steel Limited from Snehlata Madanmohan Vyas for INR 0.16 million.

The acquisition will be financed through the internal resources of the Acquirer and no borrowings from any bank and/or financial institution are envisaged. As of January 4, 2023, Committee of independent directors of Inertia Steel believe that the Offer is fair and reasonable and in line with the SEBI (SAST) Regulations, 2011. The The tender offer will commence on November 25, 2022, and close on December 8, 2022.

As of December 28, 2022, The tender offer will commence on January 6, 2023, and will close on January 19, 2023. Kunvarji Finstock Private Limited acted as a manager to the offer to Vasantrai Ratilal Mehta. PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED acted as registrar to Vasantrai Ratilal Mehta.