Description

Open offer by Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Limited to acquire 13.24% equity shares of Sri Adhikari Brothers Television Network Limited from public shareholders.

Summary

Grow House Wealth Management Private Limited, as Manager to the Offer, has submitted a Letter of Offer dated October 10, 2025, for an open offer by Mr. Kurjibhai Premjibhai Rupareliya (Acquirer) along with Leading Leasing Finance and Investment Company Limited (PAC) to acquire up to 53,46,238 fully paid-up equity shares of face value ₹10/- each, representing 13.24% of the emerging voting share capital of Sri Adhikari Brothers Television Network Limited from public shareholders. The open offer is made pursuant to Regulation 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Points

  • Offer for acquisition of 53,46,238 equity shares representing 13.24% of emerging voting share capital
  • Face value of equity shares: ₹10/- per share
  • Acquirer: Mr. Kurjibhai Premjibhai Rupareliya (Shree Colony, Main Road Block No – 50/B, Street Number – 5, B/H Panchvati Society, Rajkot – 360001, Gujarat)
  • Person Acting in Concert (PAC): Leading Leasing Finance and Investment Company Ltd (1716/1717 17th Floor Wing A Chandak Unicorn, Andheri West, Mumbai – 400053)
  • Manager to the Offer: Grow House Wealth Management Private Limited (SEBI Registration No. INM000013262)
  • Letter of Offer dated: October 10, 2025
  • Target Company CIN: L32200MH1994PLC083853
  • Target Company Registered Office: 6th Floor, Adhikari Chambers, Oberoi Complex, Andheri (West), Mumbai – 400 053

Regulatory Changes

No regulatory changes. This circular represents compliance with existing SEBI (SAST) Regulations, 2011, specifically:

  • Regulation 3(1) and 4 regarding substantial acquisition of shares
  • Regulation 12(1) regarding appointment of Manager to the offer
  • Regulation 14(2) regarding submission of Letter of Offer

Compliance Requirements

  • Public shareholders of SABTNL should review the Letter of Offer and accompanying Form of Acceptance cum acknowledgement and Transfer Deed
  • Shareholders requiring clarification should consult their stock broker, investment consultant, Manager, or Registrar to the Offer
  • Shareholders who have recently sold their equity shares should hand over the Letter of Offer and accompanying documents to the member of the Stock Exchange through whom the sale was affected
  • BSE Limited is required to disseminate the Letter of Offer on its website

Important Dates

  • Letter of Offer Date: October 10, 2025
  • Submission to BSE: October 13, 2025
  • BSE Circular Date: October 16, 2025
  • Opening date of offer: To be specified in detailed Letter of Offer

Impact Assessment

Market Impact: High - This is a significant takeover offer affecting public shareholders of Sri Adhikari Brothers Television Network Limited. The acquisition of 13.24% stake represents a substantial ownership change that could impact stock price, trading volumes, and shareholder structure.

Shareholder Impact: High - Public shareholders must evaluate the offer terms and decide whether to tender their shares. This represents an exit opportunity at the offer price versus continuing as minority shareholders post-acquisition.

Corporate Governance Impact: The acquisition will alter the company’s shareholding pattern and potentially influence management control and corporate strategy going forward.

Operational Impact: Medium - While the immediate operational impact may be limited, the change in ownership structure could lead to strategic changes in the company’s business operations, management, and future direction depending on the acquirer’s intentions.

Impact Justification

Major corporate action involving takeover offer affecting 13.24% of company's emerging voting share capital, requiring immediate shareholder attention and response