Pursuant to Regulation 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015, we are enclosing herewith the disclosures received by the Company, under Regulation 7(2)(a) of ....
Awaiting price reaction for this filing.
SRM Energy's erstwhile promoter, Spice Energy Private Limited (now reclassified as a public shareholder), has sold its entire holding of 64,50,000 equity shares (71.19% of the company) for approximately Rs. 2.50 crore via an off-market transaction on March 12, 2026. The sale was carried out pursuant to a Share Purchase Agreement dated September 25, 2025, which is connected to an open offer. Post the transaction, Spice Energy holds zero shares in the company, marking a complete exit. The disclosure was filed under SEBI's insider trading regulations (Form C).
This represents a complete exit by the former promoter and likely signals a change in control, with a new acquirer expected to emerge via the open offer. Shareholders should watch for the acquirer's identity and the open offer price, as this could materially impact the stock's valuation and corporate direction.