Namrata Jain, Prachi Jain and Sureshchand Chhotelal Jain made an offer to acquire additional 26% stake in Bagadia Colourchem Limited (BSE:530197) for INR 10.6 million on January 29, 2018. Under the terms of the offer, 0.96 million shares of Bagadia Colourchem Limited will be acquired at INR 11.1 per share. The consideration will be paid in cash. Prior to transaction, Sureshchand Chhotelal Jain holds 0.95% stake in Bagadia Colourchem Limited and Namrata Jain and Prachi Jain does not hold any stake. In a related transaction, Namrata Jain, Prachi Jain and Sureshchand Chhotelal Jain signed a share purchase agreement to acquire additional 47.52% stake in Bagadia Colourchem Limited from Sushil Natwarlal Bagadia, Natwarlal Radheshyam Bagadia and Sangeeta Sushil Bagadia for INR 19.3 million. The acquisition will be financed through internal resources. An escrow account has been open with IndusInd bank Limited and 25% of the offer consideration has been deposited in the escrow account. The offer is not conditional upon any minimum level of acceptance. As of March 26, 2018, Independent Committee believe that the Offer is fair and reasonable. Bagadia Colourchem Limited The offer will close on April 10, 2018. As of March 20, 2018, the tender offer will open on April 2, 2018 and close on April 13, 2018. As of February 12, 2018, draft letter of offer has been filled. Amitkumar Gattani of Chartered Capital and Investment Limited acted as manager, CA C. M. LOPEZ acted as an accountant and Michael Monteiro of Satellite Corporate Services Pvt. Ltd. acted as registrar to Namrata Jain, Prachi Jain and Sureshchand Chhotelal Jain.