Jaimin Gupta Acquires 38.52% Stake in Aarvee Denims & Exports Ltd Through Share Purchase Agreement

Jaimin Gupta, along with Persons Acting in Concert (PACs), has acquired a significant stake in Aarvee Denims & Exports Ltd. The acquisition was made pursuant to a Share Purchase Agreement (SPA) dated September 05, 2024, and subsequent amendments on January 15, 2025, and March 06, 2025. The total shares acquired amount to 90,36,740, representing 38.52% of the paid-up equity share capital of the Target Company. This acquisition also includes 63,93,788 Equity Shares acquired pursuant to the SPA and subsequent Amendment Agreements, 14,90,500 Equity Shares acquired pursuant to an Open Offer, and 9,28,273 Equity Shares acquired before the execution of the SPA. Upon completion of the transaction, the Acquirer and PACs will acquire control over the Target Company, and the Acquirer will be classified as a promoter of the Target Company.