Intimation for submission of Draft Letter of offer to SEBI
Awaiting price reaction for this filing.
Smart Services Private Limited has submitted a Draft Letter of Offer to SEBI for a mandatory open offer to acquire up to 25% (64,86,000 shares) of Sharp India Limited from public shareholders at Rs. 10 per share. This follows a Share Purchase Agreement dated April 14, 2026, where Smart Services Private Limited agreed to buy 75% stake (1,94,58,000 shares) from existing promoter Sharp Corporation at the same price of Rs. 10 per share. The total transaction value for the main acquisition is approximately Rs. 19.46 crore. Upon completion of both the SPA and open offer (assuming full acceptance), the acquirer will hold 100% of the voting share capital. The offer period runs from June 8, 2026 to June 19, 2026.
This represents a change of control from Japanese parent Sharp Corporation to Smart Services Private Limited. Existing public shareholders are being offered Rs. 10 per share, which equals the face value and likely represents a discount to market price. Shareholders should carefully evaluate the offer considering the company's fundamentals and future prospects under new management.