Sharp India Limited's open offer by Smart Services Private Limited to acquire 25.00% of the equity share capital has a revised closing date of June 30, 2026. The acquirer aims to purchase up to 64,86,000 equity shares at a price of ₹10.00 per share. The revision follows material changes, including the acquirer's acquisition of shares and the reconstitution of the Board of Directors, along with the receipt of SEBI observations.

The Committee of Independent Directors determined the offer price is fair and reasonable, exceeding the certified fair value of ₹ NIL. The valuation was certified by Bhavesh M Rathod, Chartered Accountants and Registered Valuer. Navigant Corporate Advisors Limited acts as the manager to the offer.

Material Changes and Approvals

Since the Public Announcement on April 14, 2026, the acquirer acquired 1,94,58,000 equity shares on June 02, 2026. Additionally, the Board was reconstituted on June 05, 2026, with the appointment of Mr. Anant Raghute, Mr. Sandeep Deshmukh, Mr. Salil Halve, Mr. Yashavant Avatade, Mr. Sanjeev Mahajan, and Ms. Bhakti Hosalkar as additional directors. No statutory approvals are required for the offer.

Revised Schedule of Activities

The Letter of Offer was dispatched to shareholders on June 08, 2026. Shareholders can apply on plain paper or through their brokers. The detailed public statement and letter of offer are available on the SEBI and Navigant Corporate Advisors websites.

Sharp India Limited has revised the list of Key Managerial Personnel (KMPs) authorized to determine the materiality of events and make disclosures to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decision was taken during the company's 295th Board meeting held on June 5, 2026. This update follows the recent expansion of the board, including the appointment of Mr. Anant Raghute as Managing Director.

The newly authorized officials include Mr. Anant Raghute, Managing Director; Mrs. Padmini Urane, Chief Financial Officer; and Mr. Chandranil Belvalkar, Company Secretary & Compliance Officer. The Board confirmed that these KMPs are now responsible for assessing materiality and ensuring timely compliance with disclosure requirements.

Authorized KMPs for Disclosures

Additionally, the Board disclosed that the new management is contemplating business activities aimed at revenue generation and growth. The company stated that updates regarding these initiatives will be communicated to stakeholders in compliance with applicable regulations as and when required.