Mahanivesh (India) Limited (BSE:530441) agreed to acquire Shail Investments Private Limited from 11 shareholders on September 4, 2015. Under the terms of the transaction, new shares of Mahanivesh (India) Limited will be issued to the shareholders of Shail Investments Pvt. Ltd. in the ratio determined after valuation by the approved valuer and in accordance with the guidelines issued in this regard. Post closing, Shail Investments will be merged in Mahanivesh. Shail Investments Private Limited had net assets of INR 4 billion. The deal has been approved by the Board of Directors of Mahanivesh (India) Limited on September 4, 2015. Mahanivesh (India) Limited (BSE:530441) cancelled the acquisition of Shail Investments Private Limited from 11 shareholders on September 4, 2016.