Acquirers Launch Open Offer for Reliable Ventures India Ltd Shares at ₹21 per Share
A group of investors, including Mr. Chennupati Sarath Kumar and Ancla Technology Solutions India Private Limited, has launched an Open Offer to acquire a stake in Reliable Ventures India Limited (RVI). The offer is being managed by Rarever Financial Advisors Private Limited and targets 28,63,354 equity shares of RVI, representing 26.00% of the company's fully paid up capital.The Open Offer for reliable Ventures India Ltd has a share face value of ₹10/- each and is being offered at a price of ₹21/- per equity share, payable in cash. The offer was introduced following the Detailed Public Statement (DPS) published on June 09, 2026, across various national newspapers including Financial Express and Jansatta.
The Committee of Independent Directors (IDC) of Reliable Ventures India Ltd reviewed the offer and issued a recommendation on August 12, 2026. The IDC stated that the Offer Price is fair and reasonable for public shareholders of the Target Company. Shareholders who wish to participate can refer to the Letter of Offer (LoF), which was mailed to registered email holders on August 05, 2026, and physical copies were dispatched on August 07, 2026.
Corporate Updates and Financial Commitments
The Acquirers—Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited—have made significant commitments in relation to the offer. To fulfill regulatory requirements regarding the offer consideration, the Acquirers deposited ₹6,01,30,434/ into an escrow account with Axis Bank Limited, which covers 100% of the Offer Consideration.Furthermore, management changes have occurred at the Target Company. The Acquirers and their nominees were appointed to the Board of Directors of Reliable Ventures India Ltd during a Board Meeting held on July 15, 2026.
Details of the Acquirers’ positions in relation to the Open Offer include:
| Promoter/Promoter Group | Shares Held | % Holding |
|---|---|---|
| Sivanag Vasireddy | 46,00,000 | 51.31% |
| Sarath Kumar Chennupati | 43,65,000 | 48.69% |
| Total | 89,65,000 | 100.00% |
Details of positions held by Mr. Chennupati Sarath Kumar (Acquirer 1):
| Company Name | Designation | Date of Appointment | Percentage Holding | Listing Status |
|---|---|---|---|---|
| Ancla Technology Solutions India Private Ltd | Promoter & Director | 14/11/2025 | 48.66% | Not listed |
Details of positions held by Mr. Vasireddy Sivanag (Acquirer 2):
| Company Name | Designation | Date of Appointment | Percentage Holding | Listing Status |
|---|---|---|---|---|
| Ancla Technology Solutions India Private Ltd | Promoter & Director | 14/11/2025 | 51.34% | Not listed |
| Thinkbee Solutions Private Limited | Promoter & Director | 23/05/2022 | 50% | Not listed |
Compliance and Board Composition
The Letter of Offer (LoF) disclosed the composition of the Board of Directors at RVI. Key members include Mr. Sivanag Vasireddy, who serves as Promoter, Chairman and Managing Director (Additional Director), and Mr. Chennupati Sarath Kumar, a Promoter and Non-Executive Additional Director.The board also includes Ms. Tirumalla Sai Navya and Mr. Kaladharan Panchena serving as Independent Directors, alongside Shiv Singh Raghuwanshi, the Company Secretary & Compliance Officer.
In addition to corporate updates, the LoF provided historical details regarding non-compliance instances by the erstwhile promoter group of the target company against certain regulations over multiple financial years:
| Regulation | Financial Year | Due Date | Actual Date of Compliance | Delay (Days) | Status of Compliance |
|---|---|---|---|---|---|
| Reg 30(2) of SAST | 2017-18 | 09-04-2018 | 10-04-2018 | 1 day | Delayed compliance |
| Reg 30(2) of SAST | 2019-20 | 11-04-2020 | 19-05-2020 | 38 days | Delayed compliance |
| Reg 31(4) | 2019-20 | 11-04-2020 | 02-06-2026 | 2,243 days | Delayed compliance |
| Reg 31(4) | 2020-21 | 10-04-2021 | 02-06-2026 | 1,879 days | Delayed compliance |
Offer Timeline
The Open Offer is currently being implemented through the Stock Exchange Mechanism. The timeline for the offer is as follows:| Activity | Original Date | Revised Date |
|---|---|---|
| Date of Commencement of Tendering Period (Offer opening Date) | Friday, July 31, 2026 | Friday, August 14, 2026 |
| Date of Closure of Tendering Period (Offer Closing Date) | Thursday, August 13, 2026 | Friday, August 28, 2026 |
| Last date for rejecting/accepting tenders and payment of consideration | Monday, August 31, 2026 | Friday, September 11, 2026 |
Stock Price Movement
Reliable Ventures India Ltd settled at ₹27.15 on Thursday, delivering a strong performance and climbing +1.99%.The shares moved between an intraday low of ₹26.09 and topped out at ₹27.15 during the trading session.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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