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

Smart Services Private Limited is launching an open offer to acquire up to 25% of Sharp India Limited's equity shares at Rs. 10 per share. This follows a share purchase agreement where Smart Services acquired a 75% stake from Sharp Corporation for Rs. 19.46 Cr. The total consideration for this open offer, if fully accepted, is Rs. 6.49 Cr, secured by an escrow and bank guarantee. Smart Services aims to grow Sharp India's business, potentially diversifying, and intends to maintain its listing. The Acquirer will become the new promoter, with the previous promoter reclassified as a public shareholder. Independent directors will provide their assessment of the offer to shareholders.