Anju Auduth Timblo and Auduth M. Timblo expressed intention to acquire remaining 25% stake in Fomento Resorts and Hotels Limited (BSE:503831) for approximately INR 560 million on June 10, 2020. Under the terms of the offer, Anju Auduth Timblo and Auduth M. Timblo intend to acquire 4 million shares at INR 141 per share and delist the shares from stock exchange. The transaction is subject to approval from Board of Directors and shareholders of Fomento, approval from stock exchanges and regulatory approval. The transaction is subject to minimum tender of 2.4 million shares. A meeting of Board of Directors of Fomento is scheduled to be held on June 16, 2020. As on June 16, 2020, a meeting of Board of Directors of Fomento was held and Board of Directors shall approve the transaction post receipt of due diligence report from Keynote. As on June 23, 2020, a meeting of Board of Directors id to be held on June 26, 2020, to consider and approve the delisting offer after discussing the due diligence report, approve the draft of notice of postal ballot to be sent to all the shareholders and any incidental matters thereto. As on June 26, 2020, Board of Directors consented to the delisting offer and mentioned the offer to be in interests of the shareholder. As on July 6, 2020, shareholders of Fomento are required to vote which shall commence on July 8, 2020 at 9:00 A.M. and shall end at August 7, 2020 at 5:00 P.M. The bid will commence on September 4, 2020 and will close on September 10, 2020. As of September 10, 2020, 3.337882 All public shareholders who did not or were not able to participate in tendering process, will be able to offer their shares to Anju Auduth Timblo and Auduth M. Timblo at the offer price of INR 141 per share during the period of one year starting from the date of delisting of equity shares million shares of Fomento Resorts and Hotels Limited have been validly tendered at a price of INR 141 per share. The delisting offer is thus deemed to be successful. The last date for payment to public shareholders whose bids have been accepted is September 24, 2020. of Fomento Resorts and Hotels Limited from BSE. Pooja Sanghvi and Amlan Mahajan of Keynote Financial Services Limited (BSE:512597) acted as financial advisor to Fomento. Haribhakti and Co. LLP acted as accountants to Anju Auduth Timblo and Auduth M. Timblo. Ashish Bhope of Bigshare Services Private Limited acted as registrar to Anju Auduth Timblo and Auduth M. Timblo. Anju Auduth Timblo and Auduth M. Timblo completed the acquisition of additional 20.86% minority stake in Fomento Resorts and Hotels Limited (BSE:503831) for approximately INR 470 million on September 10, 2020.