Open Offer28 Apr 2026, 02:23 pm
Smart Services submits Draft LoO for 25% Open Offer in Sharp India
AI Summary
Smart Services Private Limited, through its merchant banker Navigant Corporate Advisors, has submitted a Draft Letter of Offer to SEBI for an open offer to acquire shares of Sharp India Limited. The offer is for up to 64,86,000 equity shares, representing 25.00% of Sharp India's fully paid-up equity and voting share capital, at a price of ₹10 per share. This open offer is being made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and aims to acquire the entire public shareholding. The offer is not conditional upon any minimum level of acceptance and currently requires no statutory approvals.
Key Highlights
- Smart Services submitted Draft Letter of Offer to SEBI for an open offer.
- Acquirer seeks to buy 25% of Sharp India's equity shares.
- Offer price is ₹10 per share for 64,86,000 shares.
- The offer targets the entire public shareholding of Sharp India.
- The open offer is not conditional on minimum acceptance.