Rarever Financial Advisors Pvt Ltd ("Manager to the Offer') has submitted to BSE a copy of Detailed Public Statement in terms of Regulation 3(1) and 4 read with Regulation 13(4), 14(3), ....
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Rarever Financial Advisors has filed a Detailed Public Statement on behalf of three acquirers — Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Pvt Ltd — to launch an open offer for 26% (28,63,354 shares) of Reliable Ventures India Ltd at ₹21 per share, totalling around ₹6.01 crore in cash. The offer follows a Share Purchase Agreement dated June 02, 2026, under which the acquirers will first buy 54.08% (59,55,815 shares) from existing promoters for about ₹12.51 crore, giving them control of the company. After both the SPA and full acceptance of the open offer, the acquirers will collectively hold 80.08% of the voting share capital. The target company, formerly in hospitality, currently has no operating business and is listed only on BSE (Scrip Code: 532124).
For public shareholders, this is a mandatory tender opportunity at ₹21 per share in cash, though the offer is not conditional on minimum acceptance. A change of control and promoter takeover is imminent, with new management likely planning to revive business operations, which may affect long-term shareholders holding beyond the tender period.