Reliable Ventures India Ltd — Important, 01-01-1970: Company Update

Reliable Ventures India Limited is subject to an open offer from Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited. The acquirers propose to buy 28.63 lakh equity shares, representing 26.00% of the company's voting capital, at ₹21 per share. This offer follows their prior acquisition of a 54.08% stake from the promoter sellers. The total consideration for this offer is ₹6.01 Crore. Upon full acceptance, the acquirers will hold 80.08% of Reliable Ventures, aiming to acquire control and continue the existing business operations. Funds for the offer are fully secured in an escrow account.