Rarever Financial Advisors Private Limited, acting as Manager to the Offer, has communicated that the identified date for determining the names of shareholders eligible to receive the Letter of Offer for the open offer has been fixed as July 31, 2026.
Offer Details
The open offer is being made by three acquirers:
- Mr. Chennupati Sarath Kumar (Acquirer 1)
- Mr. Vasireddy Sivanag (Acquirer 2)
- Ancla Technology Solutions India Private Limited (Acquirer 3)
The acquirers propose to acquire up to 28,63,354 fully paid-up equity shares of face value ₹10 each, representing 26.00% of the voting share capital of Reliable Ventures India Limited (the Target Company), from the public shareholders at a price of ₹21 per equity share.
Regulatory Timeline and Compliance
The open offer process follows:
- Public Announcement dated June 02, 2026
- Detailed Public Statement published in newspapers on June 09, 2026
- Draft Letter of Offer dated June 16, 2026
The current communication is made in compliance with Regulation 18(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, which specifies requirements for determining the list of shareholders to whom the Letter of Offer must be sent.