K K Fincorp Limited, Bajrang Finance Limited, Remi Sales and Engineering Limited and Remi Finance & Investment Private Limited offered to acquire remaining 51.08% stake in Remi Securities Limited from public shareholders for INR 15.3 million.

K K Fincorp Limited (BSE:503669), Bajrang Finance Limited, Remi Sales and Engineering Limited (BSE:504360) and Remi Finance & Investment Private Limited offered to acquire remaining 51.08% stake in Remi Securities Limited (BSE:511149) from public shareholders for INR 15.3 million on March 22, 2021. Under the transaction, K K Fincorp Limited and promoter group will acquire remaining 10,21,500 shares of Remi Securities Limited at a price of INR 15 per share. Post transaction, K K Fincorp Limited and promoter group will hold 100% stake in Remi Securities Limited and Remi Securities Limited will get delisted from recognized stock exchange i.e. BSE Limited in accordance with the Delisting Regulations.

board of K K Fincorp Limited has given in-principle approval to the transaction. As of August 23, 2021, the Promoter Acquirers jointly hold 9,78,500 Equity Shares representing 48.93% of the paid-up equity share capital of Remi Securities Limited. The transaction is subject to approval of Remi Securities Limited`s board and shareholders, receipt of the approval of the Stock Exchange in accordance with the Delisting Regulations, third part consent and statutory approval.

Systematix Corporate Services Limited (BSE:526506) acted as financial advisor to K K Fincorp Limited (BSE:503669), Bajrang Finance Limited, Remi Sales and Engineering Limited and Remi Finance & Investment Private Limited.