Vrindaa Advanced Materials Limited and Vishesh Gupta made an offer to acquire 26% of stake in GI Engineering Solutions Limited for INR 11.5 million on March 4, 2022. Vrindaa and Vishesh will pay INR 5.15 per share. In a related transaction Vrindaa and Vishesh entered into share purchase agreement to acquire 39.35% of stake in GI Engineering Solutions. The tender offer period commences on April 29, 2022 and ends on May 13, 2022. The transaction is expected to complete on June 10, 2022. Corporate Professionals Capital Private Limited acted as manager to Vrindaa Advanced Materials Private Limited and Vishesh Gupta. Vrindaa Advanced Materials Limited acted as registrar to Vrindaa Advanced Materials Limited.

Vrindaa Advanced Materials Limited and Vishesh Gupta completed the acquisition of 0.43% of stake in GI Engineering Solutions Limited for INR 0.19 million on June 20, 2022.