A consortium of acquirers has initiated a mandatory open offer to acquire up to 28,63,354 equity shares, representing 26% of the paid-up equity capital of reliable ventures , at a price of ₹21 per share. The offer follows a Share Purchase Agreement (SPA) dated June 02, 2026, through which the acquirers agreed to purchase 59,55,815 shares, representing 54.08% of the voting share capital, from the existing promoters for a total consideration of ₹12,50,72,115. The open offer is being made in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The acquirers include Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited. Rarever Financial Advisors Private Limited has been appointed as the Manager to the Offer. The target company, which currently has no operating business, was previously engaged in the hospitality and tourism sector. Its equity shares are listed on BSE Limited with the ISIN INE419H01019.

Offer Details

The open offer price of ₹21 per share has been determined in accordance with Regulation 8 of the SEBI (SAST) Regulations, 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. Assuming full acceptance, the aggregate consideration payable to public shareholders will be ₹6,01,30,434. The offer is not conditional upon a minimum level of acceptance and is not a competitive bid.

Financial Arrangements

The acquirers have certified that they possess adequate financial resources to meet the full obligations of the offer, funded through their own net worth without borrowings. An escrow account has been opened with Axis Bank Limited, and the acquirers have deposited ₹6,01,30,434, representing 100% of the total consideration payable under the offer assuming full acceptance. The funds were deposited in two tranches on June 03, 2026, and June 04, 2026.

Tentative Schedule

The tendering period for the offer is scheduled to commence on July 31, 2026, and will close on August 13, 2026. The identified date for determining the public shareholders to whom the Letter of Offer will be sent is July 10, 2026. The last date for the payment of consideration and the return of rejected shares is August 31, 2026. The offer will be implemented through the stock exchange mechanism provided by BSE Limited.

A group of acquirers comprising Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited has announced an open offer to acquire up to 26% of the equity shares of Reliable Ventures India Limited . The offer price is fixed at ₹21.00 per share, aggregating to a maximum consideration of ₹6,01,30,434.00, payable in cash. This mandatory offer is triggered pursuant to Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The offer follows a Share Purchase Agreement executed on June 02, 2026, between the acquirers and the existing promoter sellers. Under this agreement, the acquirers will purchase 59,55,815 equity shares, representing 54.08% of the voting share capital, at a negotiated price of ₹21.00 per share. The total consideration for this direct acquisition amounts to ₹12,50,72,115.00. Upon completion of this transaction and the open offer, the acquirers will acquire control over the target company and become its promoters in accordance with SEBI (LODR) Regulations.

The acquirers currently hold no equity shares in the company. Post-transaction, assuming full acceptance of the open offer, the acquirers will collectively hold 80.08% of the voting share capital. Consequently, the public shareholding may fall below the minimum 25% requirement mandated by Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquirers and existing promoters have undertaken to ensure compliance with the minimum public shareholding requirements as prescribed by applicable law.

The selling promoter shareholders, including entities such as M/s Elegance Infratech Private Limited and M/s Reliable Global Venture Private Limited, will exit the company entirely upon completion of the offer formalities. They will transfer control and management to the acquirers and apply for re-classification from the 'Promoter and Promoter Group' categories. Rarever Financial Advisors Private Limited is acting as the Manager to the Offer.

The detailed public statement containing comprehensive information regarding the offer, including the background and statutory approvals, will be published in newspapers on or before June 09, 2026. The acquirers have confirmed they have no intention to delist the target company and have adequate financial resources to meet their obligations under the SEBI (SAST) Regulations. The offer is not subject to any minimum level of acceptance.

Offer Details