Ronit Champaklal Shah, Kalpanaben Champaklal Shah and Romit Champaklal Shah entered into a share purchase agreement to acquire 57.48% stake in IEL Limited (BSE:524614) from Priyam Shantilal Jhaveri, Shantilal Bhogilal Jhaveri, Gayatri Priyam Jhaveri, Sonera Priyam Jhaveri, Preetaben M. Sonawala and Nanavati Speciality Chemicals Pvt. Ltd. for INR 3.8 million on March 12, 2020. Under the terms of the transaction, the buyers will acquire 1.9 million shares at INR 2 per share which will be paid in cash. The acquirers will each hold approximately 19.16% stake in IEL Limited upon closing of the transaction. Prior to the transaction, Priyam Shantilal Jhaveri holds 14.89%, Shantilal Bhogilal Jhaveri holds 34.36%, Gayatri Priyam Jhaveri holds 2.7%, Sonera Priyam Jhaveri holds 0.9% and Nanavati Speciality Chemicals Pvt Ltd. holds 4.45% stake in IEL Limited. In a related transaction, Ronit Champaklal Shah, Kalpanaben Champaklal Shah and Romit Champaklal Shah have made an open offer to acquire 26% stake in IEL Limited. Ronit Champaklal Shah, Kalpanaben Champaklal Shah and Romit Champaklal Shah completed the acquisition of 57.48% stake in IEL Limited (BSE:524614) from Priyam Shantilal Jhaveri, Shantilal Bhogilal Jhaveri, Gayatri Priyam Jhaveri, Sonera Priyam Jhaveri, Preetaben M. Sonawala and Nanavati Speciality Chemicals Pvt. Ltd. on June 27, 2020. ISK Advisors Private Limited acted as financial advisor to Ronit Champaklal Shah, Kalpanaben Champaklal Shah and Romit Champaklal Shah.