Promoter reclassification: 54.08% stake transferred to new promoters, effective Sept 7, 2026
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Reliable Ventures India Ltd has completed the reclassification of its outgoing promoters to the public category. Under a Share Purchase Agreement dated June 2, 2026, incoming promoters Chennupati Sarath Kumar, Sivanag Vasireddy, and Ancla Technology Solutions India Pvt Ltd acquired 59,55,815 shares (54.08% of voting capital) from the outgoing promoter group. Share transfers took place between September 1 and September 7, 2026. The outgoing promoters now hold zero shares, have ceded control, and stand reclassified as public, effective September 7, 2026. An open offer was also made to public shareholders.
Complete change of control. New promoter group now holds 54.08%. Old promoters reclassified to public with zero shares. May affect trading dynamics and open offer price discovery.