Dakshin Mercantile (an Essel Group company) has entered into a definitive agreement on May 14, 2018 to acquire 62% equity stake in LKP Finance, an RBI registered NBFC with its shares listed on BSE.
In line with applicable SEBI regulations, Dakshin Mercantile would be making an open offer to acquire a minimum of 26% equity stake from public shareholders. The transaction is subject to customary terms and conditions, including receipt of relevant regulatory approvals.
LKP Finance is an India-based holding company, which is engaged in investment activities and other financial services. The company is a non-banking finance company (NBFC).
