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

Smart Services Private Limited has announced an open offer to acquire up to 64.86 lakh equity shares (25% of total capital) of Sharp India Limited at ₹10 per share. This follows their acquisition of a 75% stake from the existing promoter for the same price. The acquirer, with a net worth over ₹186 Crore, intends to grow and diversify SIL's business, utilizing it as a listed platform. Sharp India is infrequently traded with negative net worth, and an independent valuer assessed its fair value as NIL. The committee of independent directors will share their views on the offer. If fully accepted, the acquirer will own 100% of SIL, committing to ensure public shareholding compliance.