J. Vishnu Vardhan made an offer to acquire additional 40.02% stake in Constronics Infra Limited (BSE:523844) for INR 16.4 million on February 22, 2021. Under the terms J. Vishnu Vardhan will acquire 2.8 million shares for INR 5.7 per share. The consideration is payable in cash. In a related transaction Vishnu Vardhan entered into the share purchase agreement to acquire an additional 12.63% stake in Constronics Infra Limited (BSE : 523844) from R. Sundara Raghavan and Sathish Kumar for 5.2 million on Feb 22, 2021. Pre transactions J. Vishnu Vardhan holds 1.72% stake in Constronics Infra Limited and Post acquisition of SPA and Open Offer (assuming full acceptance) will acquire maximum 39,19,762 Equity Shares constituting 54.37%. The acquisition will be financed through internal resources and no funds are borrowed from banks or financial institution for the purpose of this Open Offer. The offer will be open for acceptance from April 22, 2021 and close on May 5, 2021. The offer is not conditional upon any minimum level of acceptance. No approval will be required from any bank or financial institutions for the purpose of this Offer. There are no other statutory approvals required to be fulfilled as of March 1, 2021. This Open Offer is subject to receipt of the requisite RBI approvals, if any, for acquisition of Equity Shares by the Acquirers from NRIs and OCBs. The consideration payment is expected to be on May 20, 2021. The Board of the Target Company is required to constitute a committee of Independent Directors who would provide its written reasoned recommendation on the Offer to the Shareholders. On March 26, 2021, the schedule of the offer was revised and now the tender offer will commence on April 6, 2021 and is expected to close on April 22, 2021.Pranav Nagar of Aryaman Financial Services Limited acted as manger to the offer. Sreepriya K of Cameo Corporate Services Limited acted as registrar for J. Vishnu Vardhan. Vimal Chandak of BCB Brokerage Private Limited acted as broker to the offer. J. Vishnu Vardhan completed the acquisition of 0.16% stake in Constronics Infra Limited (BSE:523844) for INR 0.06 million on April 22, 2021. Under the transaction, J. Vishnu Vardhan accepted 0.0118 million shares tendered at a price of INR 5.7 per Constronics shares.