Accord Group has acquired the equity shares constituting 73.28% of the share capital of Coromandel Engineering Company Limited, a company listed on the BSE, held by certain promoters and members of the promoter group of the company.
The Transaction triggered a mandatory open offer to acquire 25.48% of the share capital of the Company held by the public shareholders in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Rajani Associates advised Sundeep Anand Jegath Rakshagan along with 3 identified entities of the Accord Group on this acquisition deal.
The transaction team consisted of Prem Rajani (Managing Partner), Poorvi Sanjanwala (Partner), Kashmira Bakliwal (Principal Associate) and Rutvik Rajagopal (Associate). They were assisted by:
Open Offer team: Sangeeta Lakhi (Senior Partner)
The Transaction under the SPA has been consummated and the Acquirers are in the process of completing the open offer.
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