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

Smart Services Private Limited has announced an open offer to acquire 64.86 lakh equity shares, representing 25% of Sharp India Limited, at Rs. 10 per share. This open offer, totaling Rs. 6.486 crore, follows a prior agreement to purchase 75% of Sharp India from Sharp Corporation. The Acquirer intends to take control, potentially reconstituting the Board and diversifying the business. Sharp India has stopped production of TVs and ACs since 2015, relying on promoter support. The Acquirer, with a net worth of Rs. 186.17 crore, confirms sufficient funds for the offer.