Avishkar Infra Realty Takeover Offer Opens
Kunvarji Finstock Private Limited has published an offer opening advertisement for the acquisition of 58,24,853 equity shares in Avishkar Infra Realty Limited. The primary acquirer is Mr. Niraj Harsukhlal Sanghavi, supported by persons acting in concert including family members and a consultancy firm. The offer complies with SEBI's takeover regulations and has been published in multiple newspapers to ensure wide reach.
*this image is generated using AI for illustrative purposes only.
Kunvarji Finstock Private Limited has formally submitted the offer opening advertisement for a significant acquisition in Avishkar Infra Realty Limited, marking an important corporate development under SEBI's takeover regulations. The merchant banking firm, registered with SEBI under registration number INM000012564, is managing the acquisition process on behalf of the acquirer group.
Acquisition Details
The takeover offer involves the acquisition of 58,24,853 equity shares of Avishkar Infra Realty Limited. The acquisition is being led by Mr. Niraj Harsukhlal Sanghavi as the primary acquirer, supported by persons acting in concert (PAC) including family members and a consultancy firm.
| Parameter | Details |
|---|---|
| Target Company | Avishkar Infra Realty Limited |
| Shares to be Acquired | 58,24,853 equity shares |
| Primary Acquirer | Mr. Niraj Harsukhlal Sanghavi |
| Manager to Offer | Kunvarji Finstock Private Limited |
| SEBI Registration | INM000012564 |
Persons Acting in Concert
The acquisition structure includes multiple parties working together as persons acting in concert. This group comprises both individual and corporate entities, demonstrating a coordinated approach to the takeover.
The PAC members include:
- Ms. Nishra Niraj Sanghvi
- Ms. Naysha Niraj Sanghvi
- M/s. Kenilworth Consultancy Services LLP
Regulatory Compliance
The offer has been structured in compliance with SEBI's takeover regulations. The advertisement publication represents a crucial step in the regulatory process, ensuring transparency and proper disclosure to all stakeholders.
| Regulatory Aspect | Details |
|---|---|
| Applicable Regulation | SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 |
| Specific Provision | Regulation 3(1) read with Regulation 18(7) |
| Document Type | Offer Opening Advertisement and Corrigendum to Detailed Public Statement |
Publication and Documentation
The offer opening advertisement was published across multiple newspapers to ensure wide reach and compliance with regulatory requirements. The multi-language publication strategy demonstrates adherence to SEBI's disclosure norms.
The newspapers selected for publication include The Financial Express for English-speaking readers with nationwide coverage, Jansatta for Hindi-speaking audiences across all regions, and Pratahkal as the regional Marathi newspaper. This comprehensive publication approach ensures that all relevant stakeholders and the general public have access to the takeover information.
Kunvarji Finstock Private Limited, headquartered in Ahmedabad with additional corporate offices in the city and Mumbai, brings its merchant banking expertise to manage this acquisition process. The firm's SEBI registration as a Category I Merchant Banker positions it to handle such significant corporate transactions while ensuring regulatory compliance.
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