Mumbai, July 16: Three heavyweight share brokers, known for their Warren Buffett-style of investing in the markets, have come together to acquire Aptech Limited.

Rakesh Jhunjhunwala, Gopikishan Damani and Asit Kotecha recently joined hands to corner a significant stake in the computer education and multimedia company.

Acting in concert, the trio have bought 33.51 lakh shares of Aptech from SSI Ltd which decided to sell its 10 per cent holding at Rs 56 per share for a total consideration of Rs 18.76 crore.

The three investors have also agreed to pay Rs 3 crore as a non-compete amount to SSI.

They have made an open offer for acquiring 20 per cent of the equity, or 68.90 lakh shares, of Aptech to fall in line with Sebi takeover regulations. The open offer price is pegged at Rs 61 apiece.

Announcing the open offer, the lead managers said: “The acquirers do not have any plans to dispose of or encumber any assets of the target company in the next two years, except required in the ordinary course of business or for the purpose of restructuring its assets, investments and liabilities.”

A total fund of Rs 42.02 crore will be required by the investor-trio to buy out the shares through the open offer. The three have put together 171.99 per cent of the total consideration under the open offer, providing a margin of 71.99 per cent.

Rakesh Jhunjhunwala is known as a ‘beacon’ in Dalal Street for his ability to spot multi-baggers early. Titan Industries, Pantaloon and Matrix Labs are a few companies that script success stories of Jhunjhunwala and his investment prodigy.

Gopikishan Damani and his brother Radhekishan Damani made a formidable pair in snapping up open offers for Hyderabad-based Vazir Sultan Tobacco in the recent past. This time, Gopikishan has chosen Rakesh, instead of his own brother Radhekishan, to make a kill at Aptech.

The third person, Asit Kotecha, has been instrumental in setting up ASK Raymond James, a brokerage and portfolio advisory firm that now manages a total fund of over Rs 1,000 crore.