The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Umesh Narpatchand Sanghvi
Awaiting price reaction for this filing.
Umesh Narpatchand Sanghvi has acquired 38,70,000 equity shares of SRM Energy Ltd, representing 42.715% of the company's share capital, through an off-market transaction pursuant to an open offer on March 12, 2026. Before this acquisition, he held just 189 shares (0.002%), so his stake has jumped dramatically to 42.717% (38,70,189 shares), making him a new promoter of the company. The acquirer has been classified as Promoter post-acquisition under Regulation 31A(5) of SEBI LODR Regulations. The company's total equity share capital remains at 90,60,000 shares, and no encumbrance or pledge is involved in the deal.
This is a change-of-control event with a new promoter taking a substantial 42.72% stake, which is below the 50% threshold. Shareholders should expect open offer obligations and potential shifts in company strategy, though the acquirer's holding being under 50% means they don't have absolute control. The stock may see significant volatility as the market digests the new promoter identity.