The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Spice Energy Pvt Ltd
Awaiting price reaction for this filing.
Spice Energy Private Limited, the existing promoter of SRM Energy Limited, has sold its entire shareholding of 64,50,000 equity shares (71.192% of the paid-up capital) to Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi. The transfer was completed on March 12, 2026, pursuant to the Open Offer under a Share Purchase Agreement dated September 25, 2025. The transaction was executed as an off-market deal, and after the sale Spice Energy holds NIL shares in SRM Energy. Consequently, Spice Energy has been reclassified from 'Promoter' to 'Public' under SEBI's Listing Regulations. The total equity share capital of SRM Energy remains unchanged at 90,60,000 shares.
This is a complete change of control at SRM Energy with the old promoter exiting fully and new promoters taking over. Shareholders should expect potential shifts in business direction, strategy, and governance under the new promoter group. The stock may see heightened volatility and trading activity as the market digests the new ownership structure.