- Anupam Rasayan India Limited (ARIL) acquired 24.96% of the equity share capital of Tanfac Industries Limited (TIL) through SPA from Birla Group Holdings Private Limited (BGHPL), Pilani Investment and Industries Corporation Limited (PIICL) and Mr. Askaran Agarwala (jointly, members of Promoter & Promoter Group).
- ARIL acquired joint control over TIL via entering into amendment to the JV agreement with Tamil Nadu Industrial Development Corporation (TIDCO) and became the promoter of TIL along with TIDCO.
- Acquisition of stake in TIL by ARIL is a strategic decision to expand the product series under the fluorination chemistry of ARIL. TIL brings synergies in the form of backward integration.
- We managed the entire open offer process, guided the Anupam team on key aspects of the deal and ensured timely approval from SEBI, thereby ensuring timely completion