Sarda Proteins Ltd — Important, 01-01-1970: Company Update

Onix Renewable Limited, along with its Persons Acting in Concert (PACs), has launched an open offer to acquire up to 1.73 crore equity shares, representing 19.28% of Sarda Proteins Limited's emerging voting capital, at ₹115 per share, totaling ₹19.90 crore. This offer follows their acquisition of a substantial 80.72% stake through warrant conversion, leading to a change in control and management. Onix, engaged in solar EPC work, intends to continue Sarda Proteins' existing solar-related business. The acquirers have firm financial arrangements, backed by a net worth over ₹2,018 crore. A committee of independent directors will provide its reasoned opinion on the offer to shareholders.