Prerna Jain, Rakesh Kumar Jain and Hope Consultants Limited made an offer to acquire remaining 27.03% stake in Frontline Securities Limited (BSE:533213) for INR 97.2 million on January 6, 2020. Prerna Jain, Rakesh Kumar Jain and Hope Consultants Limited made an offer to acquire remaining 27.03% stake in Frontline Securities Limited (BSE:533213) on July 1, 2020. Under the Terms of transaction, Prerna Jain, Rakesh Kumar Jain and Hope Consultants Offer to acquire 2.7 million Equity Shares at floor price of INR 36.08 per share of Frontline Securities Limited. The estimated consideration payable under the SEBI Delisting Regulations, being kept in Escrow account. Transaction is subject to delist the Equity Shares of Frontline, approval of from board of directors of Frontline and approval from shareholder of Frontline Securities. Rakesh Kumar and Hope Consultants will apply for delisting of Frontline Securities. Frontline Securities Limited has filed the application with the stock exchange M/s BSE Limited for grant of in-principle delisting approval on June 17, 2020. The acquisition of equity Shares by Prerna Jain, Rakesh Kumar Jain and Hope Consultants pursuant to the Delisting Offer is subject to the acceptance of the Discovered Price. Any Discovered Price that is accepted by the Prerna Jain, Rakesh Kumar Jain and Hope Consultants Limited for the Delisting Offer or a higher price that is offered for the Delisting Offer at their discretion, or a Counter Offer Price that results in shareholding of the Promoter and Promoter Group reaching 90% of the total equity shares outstanding pursuant to acceptance of the Counter Offer Price by Public Shareholders. Once the Acquirers announce the Exit Price, the Acquirers will acquire, subject to the terms and conditions of the Public Announcement and the Letter of Offer, all the Shares validly tendered up to and equal to the Exit Price, for a cash consideration equal to the Exit Price for each shares tendered. The Acquirers will not accept Offer Shares offered at a price that exceeds the Exit Price Transaction is also subject to minimum tender offer of 1,697,753 shares Offer Shares being tendered, obtaining statutory approval and regulatory approval. As on February 10, 2020, Board of Directors have approved the transaction. On March 14, 2020, the shareholders of Frontline Securities Limited has approved delisting of Equity Shares from BSE Limited with requisite majority through postal ballot. The Bid offer will open on July 8, 2020 and is expected to close on July 14, 2020. The consideration shall be paid by July 28, 2020. Link Intime India Pvt. Ltd. acted as Registrar to Frontline Securities Limited and Sundae Capital Advisors Private Limited acted as Financial advisor and Due diligence provider to Frontline Securities Limited in transaction. Farsight Securities Ltd. acted as broker in transaction.