Rasoi Limited and Leaders Healthcare Limited expressed their intent to acquire a 25.11% stake in J. L. Morison (India) Limited (BSE:506522) for approximately INR 620 million on February 17, 2023. Under the terms of transaction, Rasoi Limited and Leaders Healthcare will acquire 0.3 million shares of J.L at floor price of INR 1802.5. Prior to offer, Acquirer holds 24.9% stake in J.L Morison. The transaction aims to delist the J. L. Morison (India) Limited. The transaction is subject to approval by the board and shareholders of J. L. Morison (India) Limited. The transaction is also subject to approval by the stock exchange. The transaction has been approved by the Board of Directors of J. L. Morison in its meeting held on February 22, 2023. Special resolution was passed for approval of voluntary delisting of shares from shareholders and on March 31, 2023, the results were declared and resolution was passed. The Manager to the Offer, on behalf of the Acquirers informing that, under the BSE checklist for seeking in principle approval for delisting, a confirmation is required that there is no change in the Floor Price as on the date of board meeting of the Company. Accordingly, the Floor Price has been recalculated by taking the reference date as the date of the board meeting of the Company (i.e. February 22, 2023) and the revised Floor Price is arrived at INR 1800.50 per equity share in accordance with the Delisting Regulations (“Revised Floor Price”). Acquirers along with the members of the Promoter and Promoter Group of the Company reaching 90% of the paid-up equity share capital of the Company excluding shares held by Inactive Public Shareholders. A minimum number of Equity Shares being tendered through the Acquisition Window Facility to be equal to or in excess of such number of the Equity Shares constituting 90% of the total issued and paid up Equity Shares. The Company has been granted an in-principle approval for delisting of the Equity Shares from BSE on April 26, 2023. The bid start from May 8, 2023 and will close on May 12, 2023. Last date for announcement of Counter Offer will be May 16, 2023.

Bijay Murmuria and Aiay K Laddha of Sumedha Fiscal Services Limited (BSE:530419) acted as manager to the offer for Rasoi Limited and Leaders Healthcare Limited. Subhabrata Biswas of C.B. Management Services Private Limited acted as registrar to Rasoi Limited and Leaders Healthcare Limited.