Description

Open offer by Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi to acquire 26% voting share capital of SRM Energy Limited at ₹4 per equity share pursuant to SEBI SAST Regulations.

Summary

Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi (collectively “Acquirers”) have launched an open offer to acquire 23,55,600 fully paid-up equity shares representing 26% of the voting share capital of SRM Energy Limited at ₹4 per equity share. The offer is made pursuant to Regulations 3(1) and (4) of SEBI (SAST) Regulations for substantial acquisition of shares/voting rights accompanied with change in control and management of the Target Company.

Key Points

  • Acquirer 1: Mr. Umesh Narpatchand Sanghvi (Contact: +91 9892109882, Email: caumeshsanghvi@gmail.com)
  • Acquirer 2: Mrs. Sapna Sanghvi (Contact: +91 9867314744, Email: reyousapna@gmail.com)
  • Target Company: SRM Energy Limited (CIN: L17100DL1985PLC303047)
  • Offer Size: 23,55,600 equity shares (26% of voting share capital)
  • Face Value: ₹10 per equity share
  • Offer Price: ₹4 per fully paid-up equity share (payable in cash)
  • Registered Office: Room No. 2, Ground Floor, 1A, Mall Road, Shanti Kunj, Vasant Kunj, New Delhi 110070
  • Company Website: www.srmenergy.in
  • Company Email: info@srmenergy.in
  • Company Tel: +91 11 45768283
  • Acquirers’ Address: 1101, Aaditya Enclave, 18th Floor, Flat No. 1801, 12th Khetwadi Back Road, Khetwadi, Mumbai-400004, Maharashtra

Regulatory Changes

Not applicable - this is an open offer disclosure under existing SEBI (SAST) Regulations, 2011.

Compliance Requirements

  • Public shareholders of SRM Energy Limited must review the Letter of Offer for tender process details
  • Shareholders who recently sold equity shares should hand over the Letter of Offer and Form of Acceptance to the stock exchange member through whom the sale was effected
  • The offer is made under Regulations 3(1) and (4) of SEBI (SAST) Regulations for substantial acquisition with change in control
  • No statutory approvals currently required as on date of Letter of Offer, but offer subject to any future applicable approvals
  • Shareholders who tender shares cannot withdraw their acceptance once requisite documents are submitted
  • Acquirers may revise offer price/size prior to one working day before commencement of tendering period

Important Dates

  • Date of Circular: February 09, 2026
  • Tendering Period: To be specified in the complete Letter of Offer (last one working day before commencement is deadline for price/size revision)

Impact Assessment

High Impact: This open offer represents a significant corporate action involving change in control and management of SRM Energy Limited. The acquisition of 26% voting share capital by the Acquirers will result in substantial ownership changes. The offer is not conditional on minimum acceptance levels and is not a competing offer, providing certainty to the transaction structure. Public shareholders must evaluate whether to tender their shares at the offer price of ₹4 per share versus the face value of ₹10. The mandatory nature of this offer under SEBI SAST Regulations indicates a major ownership restructuring event for the company.

Impact Justification

Major corporate action involving change in control and management of listed company through open offer for 26% stake acquisition