Acquirers Launch Open Offer for Reliable Ventures India Limited, Seeking 26% Stake
On June 02, 2026, a public announcement was made regarding an open offer by a group of acquirers, including Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited. The offer aims to acquire up to 28,63,354 equity shares, representing 26% of the voting share capital of Reliable Ventures India Limited.The acquisition of shares is being made at a price of ₹21.00 per offer share, payable in cash, and the offer is structured as a mandatory offer not subject to any minimum level of acceptance.
Open Offer Details
The Acquirers are making the open offer to the public shareholders of Reliable Ventures India Limited (the Target Company). Key parameters of the offer are detailed below:| Feature | Detail |
|---|---|
| Offer Size | Up to 28,63,354 Offer Shares |
| Representing | 26% of the Voting Share Capital |
| Offer Price | ₹21.00 per Offer Share |
| Mode of Payment | Cash |
| Nature of Offer | Mandatory offer |
| Aggregate Consideration | ₹6,01,30,434.00 (Assuming full acceptance) |
Underlying Transaction
The open offer obligations were triggered by a significant underlying transaction involving the existing promoter sellers of the Target Company. The Acquirers executed a Share Purchase Agreement (SPA) with the promoter sellers.Under this agreement, the Acquirers agreed to acquire 59,55,815 equity shares, representing 54.08% of the Voting Share Capital. This sale was conducted at a negotiated price of ₹21.00 per sale share.
The total maximum consideration for these shares amounts to ₹12,50,72,115.00.
A summary of the underlying transaction is provided below:
| Particulars | Details |
|---|---|
| Transaction Type | Direct Acquisition |
| Shares Proposed to be Acquired | 59,55,815 Equity shares |
| Shareholding Percentage | 54.08% |
| Total Consideration | ₹12,50,72,115.00 |
| Mode of Payment | Cash |
Acquirers and Target Company Overview
The group of Acquirers consists of Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited.The Target Company, Reliable Ventures India Limited, has its registered office at A-6 Indore Road Koh-e-Fiza, Bhopal, Madhya Pradesh, 462001.
The acquisition of the shares outlined in the SPA, followed by the successful completion of the open offer, is expected to enable the Acquirers to acquire control over the Target Company, subsequently becoming the promoters.
The promoter sellers include various entities, such as Mr. Mohammed Hafiz Khan, Mr. Shahwar Hafiz Khan, Mrs. Sharifa Bano, and M/s Reliable Global Venture Private Limited. Collectively, the promoter sellers hold 59,55,815 equity shares, representing 54.08% of the voting share capital.
Promoter Stake Summary
The total acquisition from the promoter group via the Share Purchase Agreement is detailed as follows:| Selling Promoter Shareholder | Shares Held (Pre-SPA) | % of Voting Share Capital |
|---|---|---|
| Mr. Mohammed Hafiz Khan | 200 | 0.00% |
| Mr. Shahwar Hafiz Khan | 1,05,500 | 0.96% |
| Mrs. Sharifa Bano | 1,30,455 | 1.18% |
| Mr. Kaleemullah Khan | 1,65,200 | 1.50% |
| Mr. Farhan Sikandar Khan | 3,11,936 | 2.83% |
| Mr. Sikndar Hafiz Khan | 8,74,758 | 7.94% |
| M/s Reliable Cigarette and Tobacco Industries Private Limited | 4,200 | 0.04% |
| M/s Mandideep Engineering & Packaging Industries | 20,000 | 0.18% |
| M/s Reliable Industrial Ventures Limited | 27,177 | 0.25% |
| M/s Reliable Smartcity Limited | 1,45,692 | 1.32% |
| M/s Noor-Us-Sabah Housing Projects Private Limited | 2,00,000 | 1.82% |
| M/s Reliable Carriers Private Limited | 2,57,625 | 2.34% |
| M/s Reliable Global Venture Private Limited | 15,66,566 | 14.22% |
| M/s Elegance Infratech Private Limited | 21,46,506 | 19.49% |
| Total | 59,55,815 | 54.08% |
Stock Price Movement
Reliable Ventures India Ltd settled at ₹19.50 today, posting a 0.26% loss for the trading session. Throughout the day, the shares showed volatility, trading over a range between ₹19.46 and a high of ₹19.99.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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