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

SRM Energy's Independent Directors have assessed the Open Offer by Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi to acquire up to 0.2356 Cr equity shares, representing 26% of the company, at Rs 4.00 per share. The Directors find the offer fair and reasonable, noting the company currently has no business operations or assets, with an expert valuation indicating a NIL fair value. The offer price provides a premium over the Rs 3.88 per share at which the promoter is selling their 71.19% stake. This offers a beneficial exit opportunity for shareholders.