Aum Saw Pipes & Industries Private Limited made an offer to acquire 26% stake in Greenearth Resources and Projects Ltd (BSE:533016) for INR 90.6 million on October 1, 2012. In a related transaction, Aum Saw Pipes & Industries Private Limited entered into share purchase agreement to acquire 19.59% stake in Greenearth Resources and Projects Ltd (BSE:533016) from Anarcon Resources Pvt Ltd, Shri Hanuman Investments Pvt Ltd, Rishiraj Agarwal, Lalita Agrawal and Sangeeta Agarwal for INR 28.4 million. The tender offer was triggered as a result of signing of share purchase agreement. The offer will open on November 27, 2012 and close on December 11, 2012. The transaction is subject to approval by the Reserve Bank of India and maximum tender. The offer shall be subject to any regulatory or statutory or other approval being required at a later date before the closure of the tendering period. The offer is not conditional upon any minimum level of acceptance by the shareholders. The Independent Directors Committee appointed by Greenearth Resources believes that the offer price is fair and reasonable. As of January 18, 2013, the offer period will be open again on January 31, 2013 and close on February 13, 2013. There is no revision in offer price and last date for revising the offer price is January 24, 2013.

Shruti Banka, Ankur Agarwal and Mayuri Thakkar of Comfort Securities Limited acted as financial advisor for Aum Saw Pipes & Industries Private Limited. HDFC Bank Ltd acted as depository agent for Greenearth Resources and Project. Babu Raphael of Bigshare Services Private Limited acted as registrar for AUM Saw. Purnachandra Rao of Satyanarayana Raju & Co acted as accountant to AUM Saw Pipe Industries Pvt Limited. HDFC Bank Ltd, Depository Arm acted as depository bank to AUM Saw Pipe Industries Pvt Limited.

Aum Saw Pipes & Industries Private Limited completed the acquisition of 1.28% stake in Greenearth Resources and Projects Ltd (BSE:533016) for INR 4.5 million on February 13, 2013. Aum Saw Pipes acquired 3.7 million shares.