Om Prakash Agarwal, Satish Kumar Goyal and Ashok Kumar Goyal made an offer to acquire additional 35% stake in O.P. Chains Limited (BSE:539116) for INR 31.2 million on June 14, 2016. As reported, 2.4 million shares of O. P. Chains Limited will be acquired at INR 13 per share. The consideration will be paid in cash. As on February 18, 2017, the offer price for 2.4 million shares of O.P. Chains Limited was revised to INR 25.55 per share for a maximum consideration of INR 61.3 million. The acquirers deposited an amount of INR 15.3 million in cash, being more than 25% of the maximum consideration payable under this offer. The transaction will be funded from the internal resources of Om Prakash Agarwal, Satish Kumar Goyal, and Ashok Kumar Goyal. The offer period will commence on August 5, 2016 and will end on August 22, 2016. The committee meeting of independent Directors of O. P. Chains Limited will be held on July 20, 2016 to recommend the transaction. This offer is not a competing offer. The offer is not subject to any minimum level of acceptances and statutory approval. As of March 21, 2017, the corrigendum to the detailed public statement has been filled. As of March 28, 2017, a letter of offer has been sent by acquirer. As of April 4, 2017, a committee of independent Director consists of Amol Doneria and Rajesh Kumar Gupta has been established to recommend on offer. The committee of independent Director recommended that offer is justified with SEBI (SAST) regulation. The offer will open on April 7, 2017 and will close on April 21, 2017. Haribhakti & Co., Chartered Accountants was appointed as an independent valuer for the shares of O.P. Chains. Hem Securities Limited assigned their responsibility to Sobhagya Capital Options Ltd as advised by SEBI. Suraj Jha and Rhydham Kapoor of Sobhagya Capital Options Limited acted as managers and Escrow Banker to the offer for and on behalf of Om Prakash Agarwal, Satish Kumar Goyal and Ashok Kumar Goyal. Anil Bhargava, Menka Jha and Payal Damani of Hem Securities Limited acted as managers to the offer and Ashok Shetty of Bigshare Services Private Limited acted as registrar for Om Prakash Agarwal, Satish Kumar Goyal and Ashok Kumar Goyal. Prerit Agarwal of A. J. Associates acted as an accountant in the transaction. Om Prakash Agarwal, Satish Kumar Goyal and Ashok Kumar Goyal completed the acquisition of additional 1.89% stake in O.P. Chains Limited (BSE:539116) for INR 1.5 million on April 21, 2017. Offer closed on April 21, 2017. Post-closing, 0.06 million shares of O.P. Chains Limited were tendered. The consideration payment date is May 3, 2017.