Santan Investment Advisory LLP, Mallinath Madineni and Pratima Mallinath Madineni entered into a share purchase agreement to acquire 65.61 % stake in PH Trading Limited from Avishek Himatsingka and Variable Plaza Private Limited for INR 23.6 million.

Santan Investment Advisory LLP, Mallinath Madineni and Pratima Mallinath Madineni entered into a share purchase agreement to acquire 65.61 % stake in PH Trading Limited (BSE:512026) from Avishek Himatsingka and Variable Plaza Private Limited for INR 23.6 million on January 6, 2023. Under the terms of transaction, Offeror will acquire 3.15 million share at offer price is INR 75 cash per share. The Acquirers will pay the consideration in following manner; INR 7.87 million amounting to 33.33% of the Purchase Price on the date of signing of the said SPA and INR 7.87 million on or before 30 (Thirty) days from the date of signing of the said SPA and balance on completion.

In a related transaction, Santan Investment Advisory LLP, Mallinath Madineni and Pratima Mallinath Madineni made an offer to acquire 25.70% stake in PH Trading Limited for INR 9.3 million on January 6, 2023. Following these transaction, acquirers will hold a 100% stake in PH Trading and Avishek Himatsingka and Variable Plaza Private Limited’s stake will become null. .

The Acquirers shall achieve substantial acquisition of Equity Shares and voting capital, accompanied with effective management control over the Target Company after completion of acquisition of the Shares under SPA and the Open Offer.