As part of the compromise formula reached between Karnataka Chief B S Yeddyurappa and the dissidents led by Janardhana Reddy, state Assembly Speaker Jagadish Shettar on Wednesday offered to resign from his post and is set to be inducted into the cabinet soon.

Senior BJP leader M Venkaiah Naidu and held a meeting with Shettar in Bangalore, during which he offered to resign from his post after reaching an understanding that he would be made a minister, sources said.

He is likely to tender his resignation on Thursday and will be inducted into the cabinet soon.

His portfolio will be decided by the newly formed Co-ordination Committee of the party, which has representatives from both the factions, the sources added.

The demand for making Shettar, a Lingayat leader like Yeddyurappa, a minister was made by the Reddy brothers during the negotiations in the capital last week. However, he is unlikely to be given the Home portfolio as incumbent V S Acharya is close to the Chief Minister as well as the RSS.

Other demands of dissidents like transfer of Chief Minister's Principal Secretary V P Baligar, removal of Rural Development Minister Shobha Karandlaje and rescinding transfers of officers from Bellary have already been met.