Sri Adhikari Brothers Television Network Limited has informed the Exchange about the Company has received a copy of the public announcement dated 14th June, 2025 ( Public Announcement ) issued by Grow House Wealth Management Private Limited ("Manager to the Offer") on behalf of Mr. Kurjibhai Rupareliya.
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Mr. Kurjibhai Premjibhai Rupareliya (Acquirer) along with PAC M/s Leading Leasing Finance and Investment Company Limited has announced a mandatory Open Offer for up to 53,46,238 equity shares (13.24% of the emerging voting share capital) of Sri Adhikari Brothers Television Network Limited (SABTNL) at Rs. 10 per share, aggregating to a maximum consideration of Rs. 5.35 crore. The Open Offer is triggered by two underlying transactions: a Share Purchase Agreement where the Acquirer will buy 1,50,00,000 shares (37.15%) from existing promoter Ruani Media Service Limited at Rs. 10 per share (Rs. 15 crore), and a preferential allotment of 1,50,00,000 shares (37.15%) to the Acquirer at Rs. 10 per share (Rs. 15 crore). Post-transaction, the Acquirer and PAC will collectively hold 86.69% of the company, and the existing promoter group will be declassified.
Existing public shareholders can tender their shares at Rs. 10 each during the offer period, though the offer size is restricted to 13.24% as public shareholding is already limited. The acquisition signals a complete change in control with the existing Adhikari promoter group exiting and a new promoter taking charge, while the acquirer has stated intent to retain the stock listing.