Sharp India Limited has published its postal ballot notice in newspapers on July 8, 2026, confirming the dispatch of notices to shareholders for the approval of 15 resolutions. The company is seeking shareholder consent through remote e-voting for key proposals, including a change of name to Smaart Tech Services Limited and the appointment of a Managing Director. The e-voting period commences on July 8, 2026, at 9:00 a.m. IST and concludes on August 7, 2026, at 5:00 p.m. IST.

The Board of Directors has recommended the appointment of Mr. Anant Raghute as the Managing Director for a three-year term from June 5, 2026, to June 4, 2029. Shareholders are asked to approve his remuneration, comprising a yearly gross salary of ₹40,08,000 and a total cost to company of ₹42,06,692. Additionally, the notice proposes the appointment of Mr. Sandeep Deshmukh and Mr. Salil Halve as Non-Executive Non-Independent Directors, and Mr. Yashavant Avatade, Mr. Sanjeev Mahajan, and Ms. Bhakti Hosalkar as Non-Executive Independent Directors for five years.

A special resolution has been proposed to change the company's name from “Sharp India Limited” to “Smaart Tech Services Limited” to reflect business diversification following a change in controlling shareholding. This change requires subsequent alterations to the Memorandum of Association and Articles of Association. The Board also seeks approval to alter the object clause to include new activities such as logistics, data centers, and healthcare services.

Shareholders are requested to approve the remuneration of Mrs. Padmini Urane as Chief Financial Officer with a proposed yearly CTC of ₹35,00,001. The notice includes resolutions for material related party transactions with Smart Services Private Limited and Jayostute Capital Private Limited, involving loans and expense reimbursements aggregating to ₹14,000 Lakhs from August 30, 2026, to July 31, 2027. Furthermore, the company seeks approval to mortgage assets to avail credit facilities up to ₹500 Crores and to sell land and assets admeasuring 1,08,609 square meters located at Koregaon Bhima, Pune.

The postal ballot notice was sent electronically to members recorded in the Register of Members as on July 3, 2026. Mr. Sridhar G. Mudaliar and Mrs. Meenakshi R. Deshmukh of M/s. SVD & Associates have been appointed as scrutinizers. The company confirmed that the advertisement was published in 'Financial Express' and 'Loksatta' on Wednesday, July 8, 2026.

Smart Services Private Limited has acquired 75% of the total equity share capital of Sharp India Limited through a Share Purchase Agreement (SPA). The acquirer successfully purchased 1,94,58,000 equity shares of ₹10 each, representing 75% of the fully diluted equity share capital. Consequently, the existing promoter has ceased to be the promoter and has been reclassified as a public shareholder in accordance with SEBI regulations.

An open offer was made to acquire an additional 64,86,000 equity shares, representing 25.00% of the share capital, at a price of ₹10 per share. Managed by Navigant Corporate Advisors Limited, the offer opened on June 16, 2026, and closed on June 30, 2026. However, the offer saw minimal acceptance, with only 101 shares tendered and accepted against the proposed 64,86,000 shares.

Acquisition Details

The following table outlines the proposed versus actual acquisition details:

Shareholding Pattern

Following the completion of the offer, the acquirer holds 75.0004% of the fully diluted equity share capital. The public shareholding stands at 64,85,899 shares, representing 24.9996% of the capital. The payment of consideration for the accepted shares was completed on July 6, 2026.