Non-bank lender Mufin Green Finance has informed the exchanges that its board has approved the execution of the share purchase agreement entered with promoters and promoter group of LKP Finance Limited. 

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Mufin Green will acquire 56.96 lakh equity shares i.e. 45.32% of the total paid-up share capital of the company. 

The price at which the promoter's shareholding of the target company will be acquired is Rs 250 per share. 

The Board has also appointed a merchant banker to proceed with the open offer. 

"The Board has also appointed Merchant Banker to proceed with Open Offer in view of acquisition of 56,96,312 Equity Shares representing 45.32 per cent of the total paid up share capital along with complete management control of LKP Finance Limited," the company said in an exchange filing. 

Earlier in December, Mufin Green Finance approved the allotment of 2.55 crore warrants convertible into equity shares.

This helped the company raise funds aggregating to Rs 140.25 crore.  

Mufin Green Finance is a non-banking finance company. It is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries. The company has a presence in 14 states in north India.