Sri Adhikari Brothers Television Network Limited has informed the Exchange about General Updates
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The Committee of Independent Directors of Sri Adhikari Brothers Television Network Limited (SABTNL) approved a proposed preferential allotment of 1.5 crore equity shares to a non-promoter entity, who will be reclassified as promoter after the transaction. This will result in a change in control of the company and trigger an Open Offer under SEBI Takeover Regulations, 2011. The issue price has been fixed at Rs. 10 per share, which includes a control premium, based on a valuation report from an IBBI registered valuer dated 14th June 2025. All five Independent Directors present at the meeting assented to the proposal, with no dissent.
This is a significant event for shareholders — a new promoter is set to take control of the company via preferential allotment plus an open offer, giving existing shareholders an opportunity to tender shares and exit. The stock may see heightened activity and price discovery as the open offer details (including the open offer price) are announced.