Gujarat NRE Coke Ltd. (BSE:512579) agreed to acquire Bajrang Bali Coke Industries Ltd. from a group of shareholders for approximately INR 180 million in stock on March 30, 2015. The selling shareholders include, Arun Kumar Jagatramka, Gujarat NRE Mineral Resources Limited, Khambhalia Traders Pvt Ltd,Bhachau Traders Pvt Ltd, Wonga Traders Pvt Ltd, Manor Dealcom Pvt. Ltd., Huntervalley Coal Pvt. Ltd. and others. Under the terms of agreement, Gujarat NRE Coke Ltd will issue 397 shares for every 100 shares of Bajrang Bali Coke. In a related transaction, Gujarat NRE Coke Ltd. agreed to acquire NRE Metcoke Ltd. The management committee of Gujarat NRE Coke Ltd. has approved and fixed May 16, 2016 as the record date. Bajrang Bali Coke reported total income of INR 153.7 million, income from operations of INR 153.5 million, profit after tax of INR 9.4 million and book value of INR 654.7 million in the year ended March 31, 2014. The transaction has been approved by Board of Directors of Gujarat NRE Coke Ltd. and is subject to approval of the members and/or creditors of Gujarat NRE Coke, relevant statutory and regulatory authority and approval of High Court of Calcutta. A court convened meeting for approval of the deal by shareholders of Bajrang Bali Coke and Gujarat NRE Coke will be held on September 22, 2015. As of September 22, 2015, the transaction is approved by the shareholders of Gujarat NRE Coke. The transaction has been approved by Calcutta court on March 16, 2016. As announced on May 23, 2016, Gujarat NRE Coke allotted 38.2 million shares to the shareholders of Bajrang Bali Coke Industries Limited. Maheshwari & Associates acted as valuation agent, Gautam Deora of Guiness Corporate Advisors Pvt. Ltd. acted as fairness opinion provider, Moti Sagar Tiwari of L.P. Tiwari & Co acted as legal advisor and Niche Technologies Private Limited acted as registrar for Gujarat NRE Coke Ltd. Gujarat NRE Coke Ltd. (BSE:512579) completed the acquisition of Bajrang Bali Coke Industries Ltd. from a group of shareholders on May 23, 2016.