Vibhu Maurya made an offer to acquire 26.02% stake in Onesource Ideas Venture Limited (BSE:530805) for INR 18.8 million on October 13, 2021. Under the terms Vibhu Maurya will acquire 0.8 million shares for INR 23.39 per share in cash. The offer price includes interest of INR 7.39. In a related transaction, Vibhu Maurya entered into a share purchase agreement to acquire 40.1% stake in Onesource Ideas Venture Limited. The Offer is not conditional upon any minimum level of acceptance. Completion of the Open Offer and the underlying transaction, as envisaged under the SPA, is subject to satisfaction of the condition's precedent set out in the SPA and receipt of statutory approvals required, if any. The Committee of Independent Directors of the Board of the Target Company, will come out with their recommendations for the Offer. The Committee of Independent Directors of the Board of Onesource Ideas Venture Limited, which includes, Sankara Narayanan Sundaram as chairman and Raji, approved the transaction stating to be fair and reasonable. The recommendations were unanimously approved. The tender offer commences on December 10, 2021 and ends on December 23, 2021. As on January 5, 2021, Offer period was revised from January 13, 2022 to January 27, 2022. Varsha Gandhi of Saffron Capital Advisors Private Limited acted as financial advisor to Vibhu Maurya. Purva Shareregistry (India) Private Limited acted as registrar to Vibhu Maurya.

Vibhu Maurya completed the acquisition of 25% stake in Onesource Ideas Venture Limited (BSE:530805) for INR 18.1 million on January 27, 2022. At the close of offer on January 27, 2022, 0.769449 million shares of Onesource Ideas Venture Limited were accepted under the Offer.