Lebnitze Real Estates Private Limited executed a share purchase agreement to acquire a 59.69% stake in BNK Capital Markets Limited (BSE:500069) from a group of sellers for INR 1.2 billion on March 30, 2021. Lebnitze Real Estates Private Limited will acquire 5.97 million shares of BNK Capital Markets Limited at INR 200 per share. In a related transaction, Lebnitze Real Estates Private Limited made an offer to acquire 26% stake in BNK Capital Markets Limited for INR 520 million. The sellers shall procure that on the date of completion, BNK Capital Markets Limited shall convene a meeting of its Board of Directors to approve appointment of such number of additional Directors on the Board of BNK Capital Markets Limited as Lebnitze Real Estates Private Limited may approve, record resignations of the Directors appointed by the sellers and/or the key personnel of BNK Capital Markets Limited and change in name of BNK Capital Markets Limited as notified by Lebnitze Real Estates Private Limited. The transaction is subject to satisfaction and/or waiver of certain conditions including procuring statutory/regulatory approvals as may be applicable. The Board of Directors of BNK Capital Markets Limited approved the transaction on March 30, 2021.

Lebnitze Real Estates Private Limited completed the acquisition of a 59.69% stake in BNK Capital Markets Limited (BSE:500069) from a group of sellers on August 23, 2021. The shares were transferred to Lebnitze through open market. Moin Ladha of Khaitan & Co. acted as legal advisor to Lebnitze Real Estates Private Limited.