Rajeev Kanotra and Dhanraj Rochiram Sawlani made an offer to acquire 26% stake in Rita Finance and Leasing Limited (BSE:543256) for INR 81.64 million on February 9, 2023. The consideration will paid in cash. The offer per share is INR 31.4. In a related transaction, Rajeev Kanotra and Dhanraj Rochiram Sawlani entered into a share purchase agreement to acquire 71.74% stake in Rita Finance and Leasing Limited (BSE:543256) from Pawan Kumar Mittal, Kiran Mittal and Unifinz capital India limited for INR 81.64 million.

The offer is subject to approval from RBI. As of May 22, 2023. The date of opening the offer will be May 29, 2023 and closing of the offer will be June 9, 2023.

Abhishek Joshi and Rinav Manseta of Khandwala secuirites limited acted as a financial advisors to the offerors.