Acquirers have submitted a post-offer advertisement for the open offer of 28,63,354 equity shares of Reliable Ventures India Limited at ₹21 per share. The transaction represents 26% of the company’s fully paid-up equity share capital.

Rarever Financial Advisors Private Limited, acting as Manager to the Offer, filed the document with BSE Limited on behalf of Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited. The filing complies with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Offer Timeline and Details

The open offer was open for subscription from Friday, August 14, 2026, to Friday, August 28, 2026. The acquirers completed the payment of consideration and communicated rejection or acceptance outcomes by Friday, September 04, 2026.

The initial public statement regarding the offer was published on June 09, 2026, in Financial Express, Jansatta, Indore Samachar, and Mumbai Lakshadeep newspapers. Mudra RTA Ventures Private Limited served as the Registrar to the Offer.

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.

Board Appointments and Independent Director Recommendation

Upon completion of 15 working days from the date of the Detailed Public Statement, the acquirers became eligible to appoint themselves and their nominees to the Board of Directors of the target company. Pursuant to this eligibility, the acquirers and their nominees were appointed to the board at a meeting held on July 15, 2026.

The updated board composition is as follows:

The Committee of Independent Directors published its recommendation on August 12, 2026, stating that the offer price is fair and reasonable and in line with SEBI (SAST) Regulations, 2011. The recommendation was published in Financial Express, Jansatta, Mumbai Lakshadeep, and Indore Samachar.

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.

The promoters of Ancla Technology Solutions India Private Limited hold the following stakes:

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.