Micro Logistics (India) Private Limited made an offer to acquire 26% stake in Integra Telecommunication & Software Limited (BSE:536868) for INR 27.5 million on January 23, 2019. Under the transaction, Micro Logistics will acquire 2.7 million shares at INR 10 per share. In a related transaction, Micro Logistics (India) Private Limited entered into share purchase agreement to acquire 53.9% stake in Integra Telecommunication & Software Limited from Rashmee Agarwal, C.L. Agarwal, Nikhil Agarwal and Ratika Agarwal for INR 32.4 million on January 23, 2019. Micro Logistics (India) Private Limited has made firm financial arrangements for financing the transaction. The transaction will be financed through internal resources. The offer is not conditional on any minimum level of acceptance. The transaction is subject to receipt of requisite approvals from Reserve Bank of India, if any. No statutory approval is required for the transaction but it can be subject to such approvals applicable at a later date before completion. As of May 10, 2019, the committee of Independent Directors comprising Biswanath Patnaik as Chairperson and Rajrani Aggarwal as member recommended the shareholders of Integra Telecommunication & Software Limited to accept the offer. As of January 30, 2019, offer period will commence from March 19, 2019 to April 2, 2019. As of May 8, 2019, offer period has been revised. Under revised period, offer will commence from May 15, 2018 to May 28, 2019. Manoj Kumar and Ruchika Sharma of Corporate Professionals Capital Private Limited acted as the financial advisors and Virendar Rana of Skyline Financial Services Private Limited acted as registrar to Micro Logistics (India) Private Limited.