VR Integrated Project Management Private Limited made an offer to acquire 25.02% stake in Gayatri Tissue and Papers Limited (BSE:512479) for INR 10.5 million on June 1, 2021. As reported, VR Integrated Project Management Private Limited iintends to acquire up to 3,75,300 equity shares at a price of INR 28 per share payable in cash. In a related transaction, VR Integrated Project Management Private Limited entered into a share purchase agreement to acquire a 74.98% stake in Gayatri Tissue and Papers Limited (BSE:512479) from Tikkavarapu Indira Reddy for INR 20.3 million on June 1, 2021. VR Integrated Project Management Private Limited has adequate financial resources and has made firm financial arrangements for the implementation of the Offer in full out of their own sources/ Net worth and no borrowings from any Bank and/ or Financial Institutions are envisaged. The offer is subject to receiving the necessary approval(s), if any, from Reserve Bank of India. The offer is not subject to a minimum level of acceptance. The offer period will open on July 23, 2021 and close on August 5, 2021. As of July 16, 2021, the offer period was revised. As per revised schedule, the offer will open on July 30, 2021 and will close on August 12, 2021. The consideration is expected to be paid on August 30, 2021. The Committee of Independent Directors of Target has unanimously opined that the offer price is fair and reasonable and published the recommendation. Tanmoy Banerjee of CapitalSquare Advisors Private Limited acted as manger to the offer. P V Srinivasa Rao of Venture Capital And Corporate Investments Private Limited acted as registrar to the offer. Ankur Karani of Ashika Stock Broking Ltd acted as a broker to VR Integrated Project Management Private Limited.