Golden Goenka Credit Private Limited and Rajeev Goenka made an offer to acquire an additional 37.28% minority stake in Visco Trade Associates Limited (BSE:540097) for INR 46.6 million on January 27, 2022. Offerors to acquire 1.790484 million shares of Visco Trade Associates Limited at a price of INR 26 per share in cash. The offer price increased to INR 37.50 per share. In a related transaction, Golden Goenka Credit Private Limited and Rajeev Goenka entered into a share purchase agreement to acquire an additional 4.76% minority stake in Visco Trade Associates Limited from Amritlaxmi Dealcomm Private Limited for INR 4.8 million on January 27, 2022. The transaction will be financed by the acquirers in full out of their own sources/net worth. Offer is not subject to minimum level of acceptance. The completion of Offer is subject to the approval of Reserve Bank of India and receipt of statutory and other approvals. As of May 24, 2022, RBI granted approval to the proposal on March 30, 2022. Offer will open on March 23, 2022 and will close on April 5, 2022. As of May 27, 2022, the offer will open on June 6, 2022 and close on June 17, 2022. Urvi Belani and Premjeet Singh of VC Corporate Advisors Private Limited acted as financial advisors and S.K. Chaubey and Ravi Bahl of Maheshwari Datamatics Pvt. Ltd. acted as registrar to Golden Goenka Credit Private Limited and Rajeev Goenka.

Golden Goenka Credit Private Limited and Rajeev Goenka completed the acquisition of an additional 37.28% minority stake in Visco Trade Associates Limited (BSE:540097) on June 17, 2023.