Maurya, 31, is promoter of Sadhav Minerals Pvt Ltd and brings with himself five years of experience in the mining and minerals sector.
Madhya Pradesh-based industrialist Vibhu Maurya is acquiring 40.01 per cent stake in Onesource Ideas Venture Ltd in a deal value of nearly Rs 2 crore and launched an open offer to acquire another 26.02 per cent to take majority control of the company.
Onesource Ideas Venture Ltd, which is listed on the BSE, and the stock closed on BSE at Rs 18.50 on Monday, November 01, 2021.
Maurya, 31, is promoter of Sadhav Minerals Pvt Ltd and brings with himself five years of experience in the mining and minerals sector. An engineer by qualification and a London Business School alumni – Maurya, brings with himself experience and understanding of best practices in multiple sectors from technology to manufacturing and international business.
Maurya has entered into an agreement with the current promoters of Onesource Ideas Ventures Ltd to acquire 12,30,374 shares, having a face value of Rs 10 each, at a price of Rs 16 apiece totaling Rs 1,96,85,984, triggering an open offer, as per SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
After the share purchase agreement, Maurya has launched an open offer to acquire further 8 lakh shares, representing 26.02 per cent of the voting share capital of Onesource Ideas Venture Ltd, from public shareholders at Rs 16 per share. Mr. Maurya has earmarked a sum of Rs. 1,87,12,000 to acquire 8 lakh shares in the open offer.
Post the open offer, which starts on December 10 and closes on December 23, the total stake of Maurya in Onesource will reach to 66.03 per cent, if entire 8 lakh shares are tendered by public shareholders. Post completion of the open offer Maurya’s total investment in Onesource will be around Rs. 3,83,97,984 for entire 66.03% stake.
Maurya explains the logic of acquisition:
“With sharp revival in economy after crushing contraction during the lockdown period, we are seeing a buoyant investor sentiment in Indian markets and companies. Companies with robust business models and investor confidence are looking at organic and inorganic growth in the post-CoVID-19 era and mergers and acquisitions will pick pace in next few years”.
He said the Indian economy is set for a long term high growth phase on the back of implementation of structural reforms and policies that will attract more investment in the country triggering an investment and consumption driven economic growth. With successful implementation of Atmanirbhar Bharat, Make in India, PLI Scheme, Indian economy stands at the trajectory of exponential growth driven by sharp rise in exports.
All these factors would help India to become a growing destination in global capital flows as more and more institutional investors start taking increased exposure in Indian companies.
Source: Business World