SRM Energy Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/03/2026 ,inter alia, to consider and approve Pursuant to Reg. 29 of SEBI (LODR) ....
Awaiting price reaction for this filing.
SRM Energy Ltd has called a Board meeting on March 16, 2026 following the successful completion of an open offer for acquisition of up to 23,55,600 equity shares (26% of equity share capital) at Rs. 10 each, triggered by a Share Purchase Agreement signed on September 25, 2025. The Board will consider reclassifying existing promoters Spice Energy Private Limited and its subsidiary Nyra Holdings Private Limited from 'Promoter' to 'Public' category. Mr. Umesh N Sanghvi and Mrs. Sapna Umesh Sanghvi (the Acquirers) will be classified as the new 'Promoters' of the company, marking a complete change of control. The Board will also consider changes in management, directors, KMPs, reconstitution of board committees, and shifting of the registered office. This effectively represents a takeover of the listed company by the new promoter group.
This signals a full change of control and promoter swap at SRM Energy Ltd. Shareholders should expect a new management team, possible strategic direction changes, and potential corporate actions. Stock price may react to the new promoters' plans once announced.