Sayee Sundar Kasiraman entered into a share purchase agreement to acquire 59.39% stake in Indrayani Biotech Limited from Prakash Ramachandra Bang, Ruchir Prakash Bang, Samita Jhavar, Malti Ramachandra Bang, Anuj Prakash Bang and Vrunda Prakash Bang for INR 2.4 million on January 2, 2018. Under the terms of the transaction, Sayee Sundar Kasiraman will acquire 2.16 million shares at INR 1.1 per share. The purchase price will be paid in cash. 0.9 million shares held by Prakash Ramchandra Bang are locked-in. Prakash Ramachandra Bang, Ruchir Prakash Bang, Samita Jhavar, Malti Ramachandra Bang, Anuj Prakash Bang and Vrunda Prakash Bang sell 42.38% stake (1.54 million shares), 3.52% stake (0.13 million shares), 0.55% stake (0.02 million shares), 4.46% stake (0.16 million shares), 3.52% stake (0.13 million shares) and 4.95% stake (0.18 million shares) respectively in Indrayani Biotech Limited. In a related transaction, Sayee Sundar Kasiraman made an offer to acquire 26% stake in Indrayani Biotech Limited for INR 1.04 million on January 2, 2018.