Patel Parshottambhai Z made an offer to acquire 26% stake in Panth Infinity Limited (BSE:539143) for INR 41.6 million on February 28, 2022. Under the term Patel Parshottambhai Z will acquire 3.2 million shares for INR 13 per share. The Offer Price will be paid in cash. In a related transaction Patel Parshottambhai Z entered into share purchase agreement to acquire additional 9.323432% stake in Panth Infinity Limited (BSE:539143) from Shwetkumar Dhirajbhai Koradiya for INR 14.9 million on February 28, 2022. Pre acquisition Patel Parshottambhai Z held 0.59% stake in Panth Infinity Limited. As per the article on April 13, 2022, the independent directors of Panth Infinity approved the deal. The Offer is not conditional upon any minimum level of acceptance. Tender offer period commences on April 6, 2022 to May 10, 2022. As of April 6, 2022, date of closing of tendering period is May 2, 2022. As per the article on April 13, 2022, The offer period commences on April 19, 2022 to May 02, 2022. Tanmoy Banerjee and Pankita Patel of CapitalSquare Advisors Private Limited acted as financial advisor to Patel Parshottambhai Z and Deepali Dhuri of PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED acted as registrar to Patel Parshottambhai Z.

Patel Parshottambhai Z cancelled the acquisition of 26% stake in Panth Infinity Limited (BSE:539143) on May 2, 2022.