VEEGO PHARMA, LLC made a proposal to acquire remaining 45% stake in Wintac Limited (BSE:524758) from public shareholders for approximately INR 990 million on April 21, 2018. As per the transaction, VEEGO PHARMA, LLC made a proposal to acquire remaining 4.51 million shares. As of May 2, 2018, VEEGO PHARMA, LLC made a proposal to acquire remaining shares at INR 220 per share. Post completion, Wintac Limited will delist from Bombay Stock Exchange. The transaction is subject to approval from shareholders and Board of Directors Wintac Limited and regulatory approval. As of May 23, 2018, Board of Directors of Wintac Limited is of the view that transaction is in best interest of shareholders of Wintac Limited. Wintac Limited issued notice to its shareholders for approval of transaction through postal ballot to be commenced from June 7, 2018 to July 6, 2018. As of March 11, 2019, The Department of Pharmaceuticals has informed VEEGO PHARMA that the Government of India has not acceded to the proposal as one of the conditions of the previous approval dated January 16, 2018, which required furnishing of annual compliance of the conditions of the said approval, has not been complied with. As of April 26, 2018, Board of Directors of Wintac Limited appointed Arihant Capital Markets Limited as merchant banker for providing due diligence. As of March 11, 2019, Veego Pharma has made an application to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India seeking approval to enhance its shareholding in Wintac Limited up to 100%. On July 10, 2019, approved the voluntary delisting of the equity shares of Wintac Limited from BSE Limited.