Rajneesh Kumar and Seema Sharma made an open offer to acquire 26% stake in Superior Finlease Limited (BSE : 539835) for INR 15.6 million on May 2, 2019. Under the terms, 0.7 million shares were acquired as a part of the transaction for INR 20 per share. In a related transaction, buyer also entered into an agreement to acquire 3.06% stake in Superior Finlease from Parag Mittal and Anil Kumar Laroiya for INR 0.92 million. The transaction will be funded through own resources As a part of the transaction, the buyers will reconstitute the board on completion. No statutory approvals is required except approval from Reserve Bank of India. As of May 8, 2019, offer period will commence from June 26, 2019 to July 9, 2019. As of December 18, 2019, the transaction has been permitted to extend the opening date of the Offer, pending RBI approval. Accordingly, the tendering period for the Offer will commence not later than 12 working days from the RBI approval. Heemadri Mukerjea and Palak Chopra of Turnaround Corporate Advisors Private Limited acted as manager to offer on behalf of the buyers in the transaction. Virender Rana of Skyline Financial Services Private Limited acted as registrar to the offer.

Rajneesh Kumar and Seema Sharma cancelled the open offer to acquire 26% stake in Superior Finlease Limited (BSE : 539835) on April 3, 2024.