Sharp India Ltd — Important, 01-01-1970: Company Update

Smart Services Private Limited has announced a mandatory open offer to acquire up to 64.86 lakh equity shares, representing 25% of Sharp India Limited's voting capital, from public shareholders. The offer price is Rs. 10 per share, making the total consideration for this offer 6.486 crore. This open offer is triggered by Smart Services' agreement to purchase 1.9458 crore shares, constituting 75% of Sharp India, from the existing promoter, Sharp Corporation, for 19.458 crore at the same price. This acquisition will establish Smart Services as the new promoter of Sharp India Limited.