Transaction Overview

A Share Purchase Agreement dated June 02, 2026 was executed between:

  • Incoming Promoters: Mr. Chennupati Sarath Kumar (Acquirer 1), Mr. Sivanag Vasireddy (Acquirer 2), and Ancla Technology Solutions India Private Limited (Acquirer 3)
  • Outgoing Promoters: Mr. Shahid Hafiz Khan, Mr. Shahwar Hafiz Khan, Mrs. Sharifa Bano, Mr. Kaleemullah Khan, Mr. Farhan Sikandar Khan, Mr. Sikandar Hafiz Khan, and seven corporate entities including Reliable Cigarette And Tobacco Industries Private Limited, Mandideep Engineering & Packaging Industries Private Limited, Reliable Industrial Ventures Limited, Reliable Smartcity Limited, Noor-Us-Sabah Housing Projects Private Limited, Reliable Carriers Private Limited, Reliable Global Venture Private Limited, and Elegance Infratech Private Limited

The agreement involved the acquisition of 59,55,815 equity shares representing 54.08% of the voting equity share capital of Reliable Ventures India Limited.

Share Transfer Details

Between September 1-7, 2026, the Incoming Promoters acquired 59,54,012 shares through off-market transfers. The remaining 1,803 shares are in the process of transfer with the depository participant.

Control Change and Reclassification

The Incoming Promoters acquired control over the company and are now classified as "promoters" under SEBI Listing Regulations. The Outgoing Promoters and their promoter group members have ceased to be in control and are reclassified from "promoter" to "public" category effective September 7, 2026.

The control change date is noted as July 15, 2026, being the date of appointment of the Incoming Promoters' nominees to the Board of Directors.

Annexure A Details (Outgoing Promoters' Letter)

Dated September 26, 2026, the Outgoing Promoters formally requested reclassification to "public" category and confirmed:

  • They collectively hold no equity shares in the company (0% voting rights)
  • Do not exercise control over company affairs directly or indirectly
  • Have no special rights through formal or informal arrangements
  • Are not represented on the board and have no nominee directors
  • Do not act as key managerial personnel
  • Are not wilful defaulters per RBI guidelines
  • Are not fugitive economic offenders

The Outgoing Promoters undertook to maintain conditions (i), (ii), and (iii) indefinitely, and conditions (iv) and (v) for at least three years from reclassification date.

Signatories to Annexure A

The letter was signed by authorized signatories of all outgoing promoter entities including Guntupalli Sivarama Krishna (for Western Tobacco Limited, formerly Reliable Industrial Ventures Limited), Gopinathan Panchena (for Reliable Smartcity Limited and Noor-Us-Sabah Housing Projects Private Limited), and Sikandar Hafiz Khan (for Reliable Global Venture Private Limited and Elegance Infratech Private Limited).

#Tags: #ReliableVentures #PromoterReclassification #SEBIRegulation31A #SEBIDisclosure #OwnershipChange #Neutral