Vishnukumar Vitthaldas Patel entered into a share purchase agreement to acquire additional 5.06% stake in Praveg Limited (BSE:531637) from Paraskumar Maneklal Patel for approximately INR 550 million on September 20, 2023. The offer price is INR 480 cash per share. Following this transaction, Vishnukumar Vitthaldas Patel?s ownership will increase from 19.22% to 24.28% and Paraskumar Maneklal Patel?s ownership will decrease from 21.18% to 16.12%.

The transaction is expected to close on or before December 31, 2023.