Antelopus Energy Private Limited made an open offer for acquisition of a 26% stake in Selan Exploration Technology Limited (BSE : 530075) for approximately INR 790 million on March 17, 2022. Antelopus made an offer of INR 200 per share, to acquire 3.952 million shares, representing 26% stake in Selan. In a related transaction, Antelopus Energy Private Limited entered into a share purchase agreement to acquire a maximum of 25.10% stake in in Selan Exploration Technology Limited from Raj Kapur, Rohini Kapur, Rohit Kapur and Winton Roavic LLP for approximately INR 760 million. The offer is not conditional upon any minimum level of acceptance and is not a competing offer. The offer is subject to statutory approval in writing to be granted by the Ministry of Petroleum and Natural Gas (“MoPNG”), Government of India, and the satisfaction of certain conditions precedent as specified under the SPA. This open offer is also subject to the approval of RBI, other terms and conditions mentioned in this public announcement and as will be set out in the DPS, the draft LoF and the LoF, that are proposed to be issued in accordance with the SEBI. The public shareholders have a period of 10 working days during which they may tender their equity shares in acceptance of the offer. The offer period begins on May 13, 2022 to May 27, 2022. As of May 27, 2022, the offer period will open on June 3, 2022 and close on June 16, 2022. Mukesh Garg and Yogesh Malpani of IIFL Securities Limited acted as financial advisor to Antelopus Energy Private Limited. Sumeet Deshpande of Link Intime India Pvt. Ltd. acted as registrar to Antelopus Energy Private Limited.

Antelopus Energy Private Limited completed the acquisition of a 9.46% in Selan Exploration Technology Limited (BSE : 530075) for approximately INR 290 million on June 24, 2022.