Reliable Ventures India Limited is the subject of a mandatory open offer under Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer has been made by three acquirers — Mr. Chennupati Sarath Kumar (Acquirer 1), Mr. Vasireddy Sivanag (Acquirer 2), and Ancla Technology Solutions India Private Limited (Acquirer 3) — to acquire up to 28,63,354 fully paid-up equity shares of face value ₹10.00 each, representing 26.00% of the voting share capital of the target company, at an offer price of ₹21.00 per share. The total maximum consideration payable, assuming full acceptance, aggregates to ₹6,01,30,434.00, payable in cash.

Trigger: Share Purchase Agreement

The open offer was triggered by a Share Purchase Agreement (SPA) executed on June 02, 2026, between the acquirers and the existing promoter sellers of Reliable Ventures India Limited. Under the SPA, the acquirers agreed to acquire 59,55,815 equity shares, representing 54.08% of the voting share capital, at a price of ₹21.00 per share, aggregating to ₹12,50,72,115.00. The acquisition was structured as follows:

Pursuant to the SPA, the acquirers deposited ₹6,01,30,434.00 — equivalent to 100% of the total open offer consideration — in an escrow account opened with Axis Bank Limited on June 04, 2026, in compliance with Regulation 24(1) of the SEBI (SAST) Regulations, 2011.

Open Offer Details

The key parameters of the open offer are summarised below:

The offer is not conditional and is not subject to any minimum level of acceptance. There has been no competing offer in terms of Regulation 20 of the SEBI (SAST) Regulations, 2011. As on the date of the Letter of Offer, no statutory approvals are required by the acquirers to complete the underlying transaction and the open offer.

Background of the Acquirers

The three acquirers bring distinct professional profiles to the transaction:

• Mr. Chennupati Sarath Kumar (Acquirer 1), aged 49 years, holds a Master of Computer Application (MCA) from Bharathidasan University and has experience in investment advisory and real estate business. His net worth as on May 23, 2026, stands at ₹9,92,35,911/-. Post-SPA, he will hold 32,00,000 equity shares representing 29.06% of the voting equity share capital.
• Mr. Vasireddy Sivanag (Acquirer 2), aged 42 years, has over 14 years of experience in the information technology sector, with expertise in Artificial Intelligence, Cloud Computing, and Digital Transformation. His net worth as on May 23, 2026, stands at ₹3,05,34,026/-. Post-SPA, he will hold 6,00,000 equity shares representing 5.45% of the voting equity share capital.
• Ancla Technology Solutions India Private Limited (Acquirer 3) is a Telangana-based technology company incorporated on December 21, 2015, with over 11 years of experience in digital solutions and enterprise technology services. Its present authorised share capital is ₹12,00,00,000.00 and paid-up capital is ₹8,96,50,000.00 representing 89,65,000 equity shares of ₹10/- each. Acquirer 3 is promoted by Acquirer 1 and Acquirer 2.

About the Target Company

Reliable Ventures India Limited was incorporated on September 01, 1992, and its equity shares have been listed on BSE since January 27, 1997. The company's registered office is at A 6 Indore Road Koh-e-Fiza, Bhopal, Madhya Pradesh, 462001. The authorized share capital of the target company is ₹25,00,00,000/-, and the paid-up equity share capital is ₹11,01,29,000/- comprising 1,10,12,900 equity shares of ₹10/- each, fully paid up. The company earlier engaged in the hospitality and tourism sector but as on date has no operating business.

The financial performance of the target company for the three audited financial years is presented below:

(Amount in Lakhs)

Post-Offer Shareholding Structure

Assuming full acceptance of the open offer, the acquirers will collectively hold 88,19,169 equity shares, representing 80.08% of the voting share capital of the target company. The public shareholding will correspondingly reduce to 21,93,731 equity shares, representing 19.92%. The acquirers have undertaken to take necessary steps to ensure compliance with minimum public shareholding requirements under the SCRR, 1957 and SEBI (LODR) Regulations, 2015, within the prescribed timelines, if required.

Offer Schedule and Key Dates

The revised tentative schedule of key activities for the open offer is as follows:

The offer price of ₹21.00 per equity share has been determined in accordance with Regulations 8(1) and 8(2) of the SEBI (SAST) Regulations, 2011, being the highest of the applicable parameters, including the highest negotiated price under the SPA and the volume-weighted average market price for sixty trading days immediately preceding the date of the public announcement, both of which stood at ₹21.00 per share. Public shareholders holding equity shares in dematerialised or physical form may tender their shares through their respective selling brokers via the BSE Acquisition Window during the tendering period.

Reliable Ventures India Limited has fixed July 31, 2026, as the identified date for its proposed open offer, determining eligibility for public shareholders to receive the Letter of Offer. The acquisition involves Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited purchasing up to 28,63,354 fully paid-up equity shares at a price of ₹21 per share. This transaction represents 26.00% of the voting share capital of the target company.

The update was communicated by Rarever Financial Advisors Private Limited, acting as the Manager to the Offer, in a filing with BSE Limited on July 30, 2026. The identified date is established in compliance with Regulation 18(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. Its primary purpose is to ascertain the names of shareholders as on that specific date who are entitled to receive the formal Letter of Offer.

Offer Details

The open offer follows a Public Announcement dated June 02, 2026, a Detailed Public Statement published on June 09, 2026, and a Draft Letter of Offer dated June 16, 2026. The key parameters of the proposed acquisition are outlined below:

Shareholders holding equity shares of Reliable Ventures India Limited as on July 31, 2026, will be considered eligible to participate in the open offer. The Letter of Offer will be dispatched to these identified shareholders following this cut-off date.