Shaili Patel and Ghanshyam Patel made an offer to acquire 26% stake in Sumuka Agro Industries Limited (BSE:532070) for INR 58.7 million on April 11, 2022. Under the terms the offer price is INR 31.8 per share. In a related transaction Sumuka Agro Industries Limited entered into a preferential allotment. The acquisition will be financed through internal resources. The open offer is not conditional upon any minimum level of acceptance. The completion of the open offer is subject to receipt of statutory and other regulatory approvals. The offer will close on June 2, 2022. The transaction is expected to complete on June 20, 2022. Yash Doshi of GYR Capital Advisors Private Limited acted as financial advisor to Shaili Patel and Ghanshyam Patel. Cameo Corporate Services Limited acted as registrar to Shaili Patel and Ghanshyam Patel.