Eswara Rao Nandam and Uma Nandam made an offer to acquire 26% stake in Datasoft Application Software (India) Limited (BSE:526443) for INR 1 million on November 29, 2021. Under the terms of offer, Eswara Rao Nandam and Uma Nandam will acquire 2.9 million shares at price of INR 3.25 per share. After the completion of this Offer and pursuant to the transfer of the shares completion of the transactions contemplated in the Agreement, the Acquirers will hold the majority of the Equity Shares by virtue of which they will be in a position to exercise effective management and control over the Target Company. This Open Offer is not conditional upon any minimum level of acceptance. The deal is expected to be completed by December 22, 2021. As of December 8, 2021, the tender offer will commence from December 9, 2021. Eswara Rao Nandam and Uma Nandam have appointed Ashika Stock Broking Limited as their broker. LINK INTIME INDIA PRIVATE LIMITED acted as registrar to the offer. As of December 6, 2021, The IDC is of the opinion that the Offer Price is in accordance with the SEBI Regulations, 2011 and appears to be fair and reasonable.

Eswara Rao Nandam and Uma Nandam completed the acquisition of 26% stake in Datasoft Application Software (India) Limited (BSE:526443) on December 22, 2021.