A number of individuals entered into a share purchase agreement to acquire 73.33% stake in Subway Finance & Investment Co., Ltd. from AJS Nirman LLP and AJS Enterprises LLP for INR 16.7 million in cash on July 12, 2012. The buyer group consisting of Kalpesh Kanubhai Shah, Sangita Kalpesh Shah, Akshay Kalpesh Shah, Suketu Bhogilal Shah, Bhavna Suketu Shah, Kavish Suketu, Shah, Shaili Kavish Shah, Nitin Kantilal Shah, Bhadra Nitin Shah, Nehal Nitin Shah, Janki Nehal Shah, Ankur Nitin Shah, Hetu Ankur Shah, Rahul Kantilal Shah, Amita Rahul Shah, Viraj Rahul Shah, Ishan Rahul Shah, Harshad Kantilal Shah, Harsha Harshad Shah, Mayur Kantilal Shah, Jayshree Mayur Shah, Parth, Mayur Shah, Bhupendra Ratilal Kadhi, Manisha Bhupendra Kadhi and Rashesh Sureshchandra Shah. Buyers will acquire 0.81 million shares of Subway Finance. In a related transaction, the same individuals made an offer to acquire 26% stake in Subway Finance & Investment Co., Ltd. for INR 9.2 million on July 12, 2012.

A number of individuals completed the acquisition of 73.33% stake in Subway Finance & Investment Co., Ltd. from AJS Nirman LLP and AJS Enterprises LLP on January 29, 2013.