Reliable Ventures: Open Offer for 26% stake at ₹21/share

Rarever Financial Advisors Pvt Ltd, on behalf of acquirers Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited, has announced an open offer to acquire up to 28,63,354 equity shares, representing 26% of the total paid-up equity shares of Reliable Ventures India Ltd. The offer price is ₹21 per equity share, payable in cash. This open offer is a mandatory offer triggered by the acquirers' agreement to purchase 59,55,815 equity shares (54.08% stake) from the existing promoters at ₹21 per share, for a total consideration of ₹12,50,72,115. Upon completion of the acquisition and the open offer, the acquirers will gain control of the company and become its promoters. The total consideration for the open offer, assuming full acceptance, will be ₹6,01,30,434. The company will need to ensure compliance with the minimum public shareholding requirement of 25% post-offer.