Zyden Technologies Private Limited made an offer to acquire 26% stake in Prem Somani Financial Services Limited (BSE:530669) for INR 2.6 million on October 26, 2020. Under the terms of the acquisition, Zyden will acquire 0.86 million shares in Prem Somani for INR 3 per share in cash. In a related transaction, Zyden Technologies Private Limited entered into an agreement to acquire 25.62% stake in Prem Somani Financial Services Limited from Prem Lata Somani, Naval Kumar Somani and Nivesh Somani for INR 2.5 million on October 26, 2020. The offer is not conditional upon any minimum level of acceptance. The Committee of Independent Directors of the Board of Prem Somani Financial Services Limited, will come out with their recommendations for the Offer by December 17, 2020. The offer shall commence on December 21, 2020 and will complete on January 4, 2021. As per disclosure dated December 31, 2020, the offer will now open on January 12, 2021 and closes on January 25, 2021. Saffron Capital Advisors Private Limited acted as the manager to the offer. Bigshare Services Private Limited acted as registrar to the offer.