Rahul Saraf made an offer to acquire 26% stake in Inanna Fashion and Trends Limited (BSE:521167) for INR 75.6 million on January 30, 2018. Under the terms of the transaction, Rahul Saraf offered to acquire 9.44 million shares at INR 8 per share. The offer price will be paid in cash. The transaction will be funded through own funds of Rahul Saraf. The transaction is not subject to minimum level of acceptance and is subject to statutory approval if required. The offer will run from March 23, 2018 to April 9, 2018. As on March 20, 2018, it was announced that the tender offer will be valid for acceptances from April 5, 2018 to April 18, 2018. The last date by which the committee of independent directors of Inanna Fashion and Trends Limited can submit its recommendations is also revised to April 3, 2018 from March 21, 2018. Saffron Capital Advisors Private Limited acted as manager to Rahul Saraf. Universal Capital Securities Private Limited acted as registrar to the offer. Chioce Equity Broking Private Limited acted as broker for Rahul Saraf.