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Poovayya for Jupiter Capital open offer to buy BSE-listed NBFC TRC Financial Services for $924,000

Leading investment and financial services firm, Jupiter Capital has recently completed the acquisition of up to 33 lakh shares amounting to nearly 66% of BSE-listed non-banking financial company TRC Financial Services, by way of an open offer to the shareholders and contractual arrangements for an aggregate transaction value of Rs 5.92 crores (around $924,000). The offer price of the fully paid shares of TRC Financial Services was quoted at Rs 18 per share.

Poovayya & Co acted for Jupiter Capital in the transaction and was led by partners Siddhartha George and Rohan Kumar along with senior associate Amit Kiran.

Chartered Capital and Investment were the designated manager to the offer while Purva Sharegistry were the registrar.

With a portfolio of investments estimated to be in excess of $1bn across multiple sectors, such as technology, aerospace, infrastructure, etc. Jupiter Capital will leverage its acquisitions and synergies with TRC Financial Services to consolidate its portfolio in this segment.

2017-01-16

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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