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Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi have launched an open offer for SRM Energy Limited, seeking to acquire 26.00% of voting shares at ₹4 per share, totaling ₹0.94 Crore. This follows their agreement to purchase 71.19% from the existing promoter, Spice Energy Private Limited, aiming for full control and potential business diversification. SRM Energy faces significant financial challenges, with a negative net worth of approximately ₹13.16 Crore and a net loss of ₹1.40 Crore for the latest quarter. A critical condition for the offer is the removal of a BSE freeze on the current promoter's shares, which is currently under Supreme Court appeal.