Reliable Ventures India Ltd accepted the resignation of Mr. Sikandar Hafiz Khan as Managing Director and Director effective July 15, 2026, due to a change in management. The resignation was disclosed to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company acknowledged the resignation on the same date.

In a separate development, the company also accepted the resignations of three directors from its Board effective July 15, 2026. Sanober Bano resigned as a Director, while Guntupalli Siva Rama Krishna and Gopinathan Panchena stepped down as Independent Directors. Sanober Bano cited a change in management, whereas the independent directors resigned due to personal reasons. Consequently, Guntupalli Siva Rama Krishna and Gopinathan Panchena resigned from the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

Resignation Details

The outgoing directors requested the company to complete all necessary statutory and regulatory compliances, including filings with the Registrar of Companies. Mr. Sikandar Hafiz Khan specifically requested a copy of the e-Form DIR-12 filed with the Registrar of Companies regarding his cessation. All directors confirmed there were no other material reasons for their resignations beyond those stated.

Acquirers Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited have initiated a mandatory open offer to acquire up to 28,63,354 fully paid-up equity shares, representing 26.00% of the voting capital of reliable ventures , at a price of ₹21 per share. The offer, triggered by a Share Purchase Agreement (SPA) dated June 02, 2026, for the acquisition of 59,55,815 shares representing 54.08% of the voting capital from existing promoters, aggregates to a total consideration of ₹6,01,30,434, assuming full acceptance.

The offer is being made pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Rarever Financial Advisors Private Limited acts as the Manager to the Offer. The acquirers have deposited ₹6,01,30,434, representing 100% of the total consideration, into an escrow account with Axis Bank Limited. The offer is not conditional and is not subject to any minimum level of acceptance.

Offer Details

Background and Objectives

The open offer follows the execution of an SPA between the acquirers and the promoter sellers for the acquisition of 54.08% of the paid-up equity share capital of the target company. Upon completion of the underlying transaction and the open offer, assuming full acceptance, the acquirers will hold 88,19,169 equity shares, representing 80.08% of the voting share capital. The existing promoter sellers will exit the company and be reclassified from the promoter category.

The primary objective of the acquisition is to acquire substantial equity shares and voting capital accompanied by control over the target company. The acquirers intend to continue the existing business operations of the company. The target company, earlier engaged in the hospitality and tourism sector, currently has no operating business.

Key Dates and Schedule

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

• Offer Opening Date: July 31, 2026
• Offer Closing Date: August 13, 2026
• Last Date for Payment of Consideration: August 31, 2026
• Last Date for Post-Offer Public Announcement: September 07, 2026

The offer price of ₹21 per share was determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations, 2011, being the highest of the negotiated price under the SPA and the volume-weighted average market price for the 60 trading days preceding the public announcement. The acquirers have certified that they have adequate financial resources to meet the full obligations of the offer out of their own net worth, with no borrowings envisaged.