Uniply Industries Ltd. (BSE:532646) made on offer to acquire 26% stake in UV Boards Ltd. (BSE:526957) for INR 53.5 million on May 20, 2016. In a related deal, Uniply Industries Limited signed a share purchase agreement to acquire 8.75% stake in UV Boards Ltd. from Dugar Mercandise Private Limited for INR 13.4 million. Under the terms of the agreement, Uniply Industires Limited intends to acquire 3.96 million shares at INR 13.5 per share in cash through tender offer. The tender offer will commence on July 13, 2016 and will expire on July 26, 2016. As per the revised terms, The tender offer will now commence on December 16, 2016 and will expire on December 29, 2016. The transaction is subject to receipt of required statutory and regulatory approval and is not subject to minimum level of acceptance. The Independent Committee of Directors have approved the transaction on December 14, 2016. Balakrishna Iyer of D&A Financial services (P) Ltd acted as financial advisor to Uniply Industires Limited. Bigshare Services (P) Limited acted as registrar of the offer to Uniply.

Uniply Industries Ltd. (BSE:532646) completed the acquisition of 0.001% stake in UV Boards Ltd. (BSE:526957) for INR 2,889 on December 29, 2016. Uniply Industries Ltd. acquired 214 shares.