New Delhi, Nov 9 (PTI) Financial advisory firm OneSource Ideas Ventures Ltd's promoters will sell their entire 40 per cent stake in the company to a Madhya Pradesh based-industrialist Vibhu Maurya.

Last moth, a share-purchase agreement was signed between Maurya and promoters of BSE-listed OneSource Ideas Ventures, triggering an open-offer. The public shareholders can tender their shares in the open offer starting Decemer 10.

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Subsequently, Maurya, who is buying shares in his personal capacity, has launched an open offer to acquire another 26.02 per cent to take majority control of the company, according to a statement.

Maurya is a promoter of Sadhav Minerals Pvt Ltd and also a director at Oracle RealInfra Pvt Ltd.

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He has agreed to acquire 12,30,374 shares, having a face value of Rs 10 each, at a price of Rs 16 apiece.

Maurya has launched an open offer to acquire further 8 lakh shares, representing 26.02 per cent of the voting share capital of Onesource Ideas Venture Ltd, from public shareholders.

Post the open offer, which starts on December 10 and closes on December 23, the total stake of Maurya in OneSource will reach 66.03 per cent if he is able to buy the entire 8 lakh shares from the public shareholders.

As per the agreement, Maurya will take over the management control of the company after completing the open offer formalities and all other regulatory approvals. He will be then classified as a promoter of Onesource Ideas Venture Ltd.

Shares of OneSource Ideas Ventures closed at Rs 22.40 a piece on BSE, up 4.92 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)