SRM Energy Ltd — Important, 01-01-1970: Company Update

Acquirers Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi have launched a mandatory open offer to acquire 23.56 lakh (26%) equity shares of SRM Energy Limited at ₹4 per share, totaling ₹0.94 Cr. This follows their agreement to acquire 71.19% of the company's shares from the current promoter, Spice Energy Private Limited, for ₹2.50 Cr. Post-offer, assuming full acceptance, the acquirers will collectively hold 97.19%, reducing public shareholding to approximately 2.81%. The acquirers plan to review and modify business operations and the Board of Directors, ensuring compliance with minimum public shareholding norms. The open offer is subject to the removal of a Bombay Stock Exchange freeze on the shares.