Navigant Corporate Advisors Ltd. ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Sharp India Ltd (Target Company").
Awaiting price reaction for this filing.
Smart Services Private Limited (acquirer) has submitted a Draft Letter of Offer for a mandatory open offer to Sharp India Ltd shareholders. This offer is triggered under SEBI (SAST) Regulations following a Share Purchase Agreement where Smart Services agreed to buy 75% stake (1,94,58,000 shares) from existing promoter Sharp Corporation (Japan) at Rs. 10 per share, totaling Rs. 19.46 crore. The open offer seeks to acquire additional 64,86,000 shares (25% of voting capital) at the same price of Rs. 10 per share. Upon completion of both transactions, the acquirer aims to hold 100% of the company. Sharp Corporation will exit as promoter and be reclassified as a public shareholder. The offer opens on June 8, 2026 and closes on June 19, 2026.
This represents a complete change of control at Sharp India Ltd with the Japanese promoter exiting. Shareholders are being offered Rs. 10 per share (face value), which may be considered a low valuation and could trigger concerns about fair pricing. The stock may see volatility during the offer period with arbitrage opportunities around the offer price.