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

Reliable Ventures India Limited faces a change in control. Acquirers Mr. Chennupati Sarath Kumar, Mr. Vasireddy Sivanag, and Ancla Technology Solutions India Private Limited acquired a 54.08% stake from prior promoters for ₹12.51 crore. This led to a mandatory open offer for an additional 26.00% of voting capital (2,863,354 shares) from public shareholders at ₹21 per share, valued at ₹6.01 crore. The offer period is August 14-28. The company currently has no operating business, but the new acquirers plan to continue existing operations. If the offer is fully accepted, they will hold 80.08%. Independent directors' views on the offer will be released.