SRM Energy Limited , a company listed on the Bombay Stock Exchange, is set to undergo a significant change in ownership and management structure. The company's promoter, Spice Energy Private Limited, has entered into a Share Purchase Agreement (SPA) that could reshape the future of the energy firm.

Key Details of the Transaction

• Seller: Spice Energy Private Limited (Promoter/Holding Company)
• Buyers: Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi
• Stake Size: 64,50,000 equity shares (approximately 71.19% of total paid-up share capital)
• Agreement Date: September 25, 2023

Implications of the Deal

The transaction, once completed, will result in a change of management and control of SRM Energy Limited. This shift in ownership structure is expected to have significant implications for the company's future direction and operations.

Regulatory Compliance

In accordance with the Securities and Exchange Board of India (SEBI) regulations, the acquirers will be required to make an open offer to the company's shareholders. Sobhagya Capital Options Private Limited, a Category I Merchant Banker, has been appointed as the manager for this open offer process.

Management Transition

Upon fulfillment of the conditions outlined in the SPA, Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi will acquire management control of SRM Energy Limited. The acquirers may exercise their right to nominate members to the company's Board of Directors, subject to SEBI regulations and the terms of the SPA.

Market Impact

The Bombay Stock Exchange, where SRM Energy Limited is listed, has been duly informed of this development. The market will likely be watching closely to see how this change in ownership affects the company's performance and strategy going forward.

Conclusion

This transaction marks a significant milestone for SRM Energy Limited. As the company prepares for new leadership, stakeholders will be keen to observe any shifts in corporate strategy or operational focus that may emerge under the Sanghvi family's stewardship. The successful completion of this deal and the subsequent open offer process will be crucial in determining the company's trajectory in the coming years.

SRM Energy Limited , a company listed on the Bombay Stock Exchange, has announced a significant corporate restructuring move. The company's Board of Directors has decided to transfer its entire shareholding in its wholly-owned subsidiary, SRM Energy Tamilnadu Private Limited, to its holding company, Spice Energy Private Limited.

Key Details of the Transaction

Shareholder Approval and Regulatory Compliance

The decision follows shareholder approval obtained through a postal ballot process that concluded on August 22, 2025. This transfer is classified as a related party transaction but is reported to be conducted on an arm's length basis.

About the Buyer

Spice Energy Private Limited, the holding and promoter company of SRM Energy, currently holds 64,50,000 equity shares, representing 71.19% of SRM Energy's total share capital. The company is registered at 21, Basant Lok Complex, Vasant Vihar, New Delhi.

Financial Impact

According to the company's disclosure, the subsidiary being transferred contributed nil to SRM Energy's turnover, revenue, income, and net worth during the last financial year.

Regulatory Disclosures

SRM Energy has made the necessary disclosures to the Bombay Stock Exchange as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Other Corporate Updates

In the same board meeting, SRM Energy also addressed several other corporate matters:

Annual General Meeting

The 38th AGM is scheduled for September 26, 2025, to be held via video conferencing.

Book Closure

The Register of Members and Share Transfer Book will be closed from September 20 to September 26, 2025.

E-voting Period

Shareholders can cast their votes electronically from September 23 to September 25, 2025.

Appointment of Statutory Auditors

The board has recommended the appointment of M/s. Rajat Associates as the new Statutory Auditors for a term of five years, subject to shareholder approval.

Reappointment of Secretarial Auditors

S.K. Nirankar & Associates have been reappointed as Secretarial Auditors for the financial year 2025-26.

These corporate actions reflect SRM Energy's efforts to streamline its operations and comply with regulatory requirements. Investors and stakeholders will be watching closely to see how these changes impact the company's future performance and structure.