Ruani Media Service Ltd has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
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Ruani Media Service Limited has disclosed to the stock exchanges an acquisition of 1,50,00,000 equity shares (59.11% post-transaction) in Sri Adhikari Brothers Television Network Limited, a company listed on both BSE and NSE. The acquisition was carried out pursuant to a Resolution Plan approved by the NCLT Mumbai Bench on 8 December 2023 under the IBC framework. The shares were originally allotted on 23 February 2024 (40 lakh equity shares + 1.1 crore warrants), with the warrants subsequently converted into equity on 21 March 2024. Ruani Media is exempt from making an open offer under Regulation 10(1)(da) of SEBI (SAST) Regulations, 2011. This disclosure filing appears to be a delayed compliance report filed on 25 August 2025 for transactions that occurred over a year earlier.
Ruani Media Service has become the controlling shareholder (59.11%) of Sri Adhikari Brothers Television Network, effectively changing control of the listed company. No open offer obligation for other shareholders, but the change in control stems from an insolvency-driven resolution plan, which carries ongoing monitoring and compliance risk for the stock.