Kaushik B. Parikh made an offer to acquire the remaining 30.14% stake in Ocean Agro (India) Limited (BSE:519491) for INR 37.6 million on January 15, 2020. Under the terms of the offer, Kaushik B. Parikh will acquire 2.03 million equity shares at INR 18.5 per share and consequently voluntarily delist the equity shares from the BSE Ltd. The Promoter and Promoter Group collectively hold 4.71 million equity shares representing 69.86% of the paid up equity capital of the Company. A meeting of the board of directors of the Company is being convened on January 21, 2020 in order to review the due diligence report of the Merchant Banker and to approve/ reject the proposal of voluntary delisting equity shares of the Company made by the Promoter. The Delisting Proposal must be approved by the Board of Directors of the Company, and by a special resolution of the equity shareholders of the Company. As of January 18, 2020, The Board of Directors of the Company has appointed Vivro Financial Services Private Limited, a merchant banker carry out due diligence in accordance with Regulation 8 of the Delisting Regulations. On January 21, 2020, the Board has approved and recommended the proposal to voluntary delisting equity shares of the Company from BSE in accordance with the Delisting Regulations at the meeting held on such date. The Board has also approved the draft Notice of postal ballot along with the explanatory statement, Postal Ballot Form, Newspaper advertisement in order to take approval of the Public Shareholders for the aforesaid voluntary delisting of equity shares of the Company by way of special resolution through postal ballot and e-voting. The Floor Price for the Delisting Offer to be INR 17.20, however the Promoter has informed his willingness to accept the Equity Shares of the Company tendered in the Delisting Offer at a price of INR 18.50. As of March 23, 2020, through the process of postal ballot the shareholders were voluntarily delisted from the Bombay Stock Exchange with the majority of the members voting in favour of the delisting. The bid offer will commence on July 14, 2020 and will close on July 20, 2020. Shashi Singhvi of Vivro Financial Services Private Limited acted as manger to the offer and N. Surreash of Adroit Corporate Services Private Limited acted as a registrar of the offer. Kaushik B. Parikh completed the acquisition of the remaining 30.14% stake in Ocean Agro (India) Limited (BSE:519491) on July 20, 2020. In the reverse book building process, 13,91,633 Equity Shares have been validly tendered at the Exit Price, which is higher than the Minimum Acceptance Condition number of Equity Shares to be acquired in the Delisting Offer. The Delisting Offer is thus deemed to be successful. In accordance with Regulation 21 of the Delisting Regulations, all Public Shareholders of the Company who did not or were not able to participate in the RBBP Delisting Offer or who unsuccessfully tendered their Equity Shares in the RBBP (“Residual Shareholders”) will be able to offer their Equity Shares to the Acquirer at the Exit Price during a period of one year following the date of delisting of Equity Shares from BSE (“Exit Window”). Upon Delisting of the Equity Shares of the Company from BSE, a separate letter of offer (“Exit Letter of Offer”) in this regard will be sent to the Residual Shareholders. If the Residual Shareholders wish to tender their Equity Shares during the Exit Window, they will be required to submit the requisite documents to the Registrar to the Offer during the Exit Window within the stipulated time as mentioned in the Exit Letter of Offer. The tendering of the residual shares will start on September 4, 2020 to September 3, 2021.