SRM Energy Limited has announced significant leadership appointments following its board meeting held on 26th March, 2026. The board, based on recommendations from the Nomination & Remuneration Committee, approved the appointment of a new Chief Financial Officer and Secretarial Auditors to strengthen the company's governance structure.

Key Management Appointment

The board appointed Mr. Umesh Narpatchand Sanghvi as Chief Financial Officer (KMP) of the company, effective 26th March, 2026. The appointment details are outlined below:

Mr. Sanghvi brings extensive professional exposure in banking and finance, debt and equity fund raising, and wealth management. His dual role as both Managing Director and CFO reflects the company's strategic approach to financial leadership.

Secretarial Auditor Appointment

The board also approved the appointment of M/s HSPN & Associates LLP, Company Secretaries, as the Secretarial Auditors of the company for an extended term:

M/s HSPN & Associates LLP is a corporate law service firm with specialized expertise in multiple areas including Corporate Laws & Procedures, Secretarial Compliance Audit, SEBI Regulations and Listing Regulations, FEMA Compliances, Takeover Regulations, Prohibition of Insider Trading Regulation, and Corporate Restructuring and Mergers/Amalgamations.

Board Meeting Details

The board meeting was conducted on 26th March, 2026 at Motiwala Mansion Ground Floor Forjett Street Mumbai, commencing at 4:00 p.m. and concluding at 5:00 p.m. Both appointments were made in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The company has submitted the board meeting outcome to the Bombay Stock Exchange Limited, confirming full regulatory compliance. The appointments were made pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/015 dated 11th November, 2024. The company confirmed that Mr. Umesh Narpatchand Sanghvi is not debarred from holding the office of Director by any SEBI order or other authority, ensuring full compliance with regulatory requirements.

The appointments strengthen SRM Energy Limited's management structure and governance framework as the company continues its operations in the energy sector.

The open offer for SRM Energy Limited by acquirers Umesh Narpatchand Sanghvi and Sapna Sanghvi has concluded with significantly lower participation than anticipated. The post-offer advertisement published on March 16, 2026, reveals that only 189 equity shares were tendered against the targeted acquisition of 23,55,600 shares.

Open Offer Results

The open offer, which ran from February 11 to February 25, 2026, aimed to acquire up to 26.00% of SRM Energy's equity share capital at ₹4.00 per share. However, the actual response was minimal, with shareholders tendering only 189 shares representing 0.002% of the company's equity.

Acquisition Structure and Holdings

Prior to the open offer, the acquirers had already secured 64,50,000 equity shares (71.19%) through Share Purchase Agreements. The open offer was conducted to comply with SEBI SAST regulations following this substantial acquisition.

Shareholding Pattern Impact

The minimal response to the open offer means the public shareholding in SRM Energy remains largely unchanged. Public shareholders continue to hold 26,09,811 shares, representing 28.81% of the company's equity capital, compared to the pre-offer holding of 26,10,000 shares.

Regulatory Compliance

The post-offer advertisement was published in Financial Express (English), Jansatta (Hindi), Pratabhakal (Marathi), and Pratakhiran (Hindi) on March 16, 2026, as required under Regulation 18(12) of SEBI SAST Regulations. Sobhagya Capital Options Private Limited served as the Manager to the offer, while MCS Share Transfer Agent Limited acted as the Registrar.

Company Information

SRM Energy Limited, incorporated in 1985 with CIN L17100DL1985PLC303047, operates from its registered office in New Delhi. The company's shares are listed on BSE Limited under the scrip code SRMENERGY/523222, with a total equity base of 90,60,000 shares of ₹10 face value each.