Acquisitions14 Apr 2026, 12:35 pm
Sharp India Promoter Sells 75% Stake for ₹19.46 Cr
AI Summary
Sharp Corporation, the promoter and holding company of Sharp India Limited, has executed a Share Purchase Agreement (SPA) on April 14, 2026, to sell its entire 75.00% stake, comprising 1,94,58,000 equity shares, to Smart Services Private Limited. The transaction is valued at ₹19,45,80,000, with each share priced at ₹10.00. Upon completion, Sharp Corporation will cease to be in control of Sharp India and will no longer hold any shares. This acquisition by Smart Services Private Limited triggers a mandatory open offer for the public shareholders of Sharp India, in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Key Highlights
- Sharp Corporation divests its entire 75% stake in Sharp India.
- Smart Services Private Limited acquires 1,94,58,000 shares.
- The deal is valued at ₹19.46 crore, at ₹10.00 per share.
- Transaction triggers a mandatory open offer for public shareholders.
- Sharp Corporation will lose control and cease to be a shareholder.