Sharp India Limited has announced a significant ownership change through the execution of a Share Purchase Agreement (SPA) between its Japanese parent company and a new investor. The Board of Directors took note of this development during their meeting held on April 14, 2026, marking a pivotal moment in the company's corporate structure.

Transaction Details

The Share Purchase Agreement involves the sale of Sharp Corporation Japan's entire holding in Sharp India Limited to Smart Services Private Limited. The transaction encompasses substantial financial and operational implications for all stakeholders.

Formal Public Announcement

Navigant Corporate Advisors Limited has issued the formal public announcement for the mandatory open offer on behalf of Smart Services Private Limited. The announcement was submitted to BSE Limited on April 14, 2026, fulfilling regulatory requirements under SEBI (SAST) Regulations, 2011.

Regulatory Framework and Compliance

The open offer is triggered pursuant to Regulation 3(1) and Regulation 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer represents the entire public shareholding of 25.00% as the remaining 75.00% is being acquired through the Share Purchase Agreement.

Parties to the Agreement

Smart Services Private Limited, based in Pune at 403, Western Court, Building D, Opp. E-Square, Bhamburda, Shivaji Nagar, serves as the acquirer. The company is controlled by Mrs. Shaila Gaikwad, Corporate Legal Consulting Private Limited, and One Global Trust. Sharp Corporation acts as the selling shareholder, disposing of its entire 75.00% promoter holding.

Post-Transaction Corporate Structure

Upon completion of this transaction, Smart Services Private Limited will become the new promoter of Sharp India Limited. Sharp Corporation will cease to be the promoter and will be reclassified as a public category shareholder in accordance with Regulation 31A(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Sharp India Limited has announced the execution of three debt assignment agreements totaling ₹145.34 crores, as disclosed to BSE Limited on April 14, 2026. The agreements were executed between April 10-14, 2026, involving the company's External Commercial Borrowing and subsidiary debt assignments.

External Commercial Borrowing Assignment

The first agreement, executed on April 14, 2026, involves the assignment of External Commercial Borrowing from Sharp Corporation, Japan (the promoter and holding company) to Unbounded Opportunities Fund SPC, Cayman Islands. The assignment covers ECB worth ₹15,84,11,000 (Rupees Fifteen Crores Eighty Four Lakhs and Eleven thousand) for a consideration of ₹1,00,20,000 (Rupees One Crore and Twenty Lakhs).

The assignment is subject to approval from the Authorized Dealer of the Bank and will become effective from the date when the assignor ceases to have control over the borrower in favor of a third party.

Subsidiary Debt Assignments

Two additional debt assignment agreements were executed on April 10, 2026, both involving Kripa Anand Rishi Cellular Private Limited as the assignee.

Sharp Business Systems Assignment

The second agreement involves Sharp Business Systems (India) Private Limited assigning debt of ₹126,65,00,000 (Rupees One Hundred Twenty-Six crores and Sixty-Five Lakhs only) for a consideration of ₹7,94,00,000 (Rupees Seven Crore Ninety Four Lakhs).

Sharp Software Development Assignment

The third agreement covers Sharp Software Development India Private Limited assigning debt of ₹2,85,00,000 (Rupees Two Crores and Eighty Five Lakhs) for a consideration of ₹18,00,000 (Rupees Eighteen Lakhs).

Key Terms and Conditions

All three debt assignments share common terms and conditions:

• Assignments executed on "AS IS WHERE IS AND AS IS WHAT IS BASIS"
• Effective date contingent upon Sharp Corporation, Japan ceasing control over Sharp India Limited
• Assignment of debt and security interest contingent upon transfer of all equity shares held by Sharp Corporation to prospective buyers
• Sharp India Limited does not hold shares in either assignee entity
• Transactions do not fall within related party transaction categories

Regulatory Compliance

The disclosures were made pursuant to Regulation 30 and Regulation 30A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed annexures covering all required particulars under Schedule III of the listing regulations, including counterparty details, agreement purposes, shareholding information, and impact assessments.

The Board of Directors of Sharp India Limited took note of these assignments during their meeting held on April 14, 2026, with Company Secretary Chandranil Belvalkar signing the disclosure documents.