Sobhagya Capital Options Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement ("PA") as required under Regulation 3(1) and Regulation 4 read with Regulation ....
Awaiting price reaction for this filing.
Sobhagya Capital Options Pvt Ltd, acting as Manager to the Offer, has filed a Public Announcement with BSE on behalf of Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi (the Acquirers) for an Open Offer to acquire up to 23,55,600 equity shares (26% of voting capital) of SRM Energy Limited at Rs. 4.00 per share. This Open Offer follows a Share Purchase Agreement (SPA) signed on September 25, 2025, under which the Acquirers are buying 64,50,000 shares (71.19%) from existing promoter Spice Energy Private Limited at Rs. 3.88 per share, thereby taking control of the company. If fully tendered, the total consideration payable to public shareholders would be approximately Rs. 94.20 lakhs, paid in cash. The detailed public statement is expected to be published on or before October 3, 2025.
This announcement signals a change in control of SRM Energy Ltd, with new promoters (the Sanghvi family) acquiring a 71.19% stake. Public shareholders now have an opportunity to tender their shares at Rs. 4.00 per share, which is a slight premium over the SPA price of Rs. 3.88. Existing shareholders should evaluate whether to tender based on their view of the new management and the stock's market price.