Offer Details

The open offer is being made to acquire up to 63,04,825 equity shares of SBPL, constituting 26.00% of the paid-up equity share capital, at a price of ₹150 (Indian Rupees One Hundred Fifty Only) per equity share, payable in cash. The offer is made pursuant to Regulation 4 and other applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The Persons Acting in Concert (PACs) are:

  • Mr. Sukumar Srinivas (PAC 1)
  • Ms. Parwathi Srikanth Mirlay (PAC 2)
  • Mr. Dhananjay Mirlay Srinivas (PAC 3)
  • Shankara Holdings Private Limited (PAC 4)

Schedule of Activities

The complete schedule of activities for the open offer process is provided, with both original and revised dates being identical, indicating no changes to the timeline:

  • Public Announcement (PA) Date: July 15, 2026 (Wednesday)
  • Detailed Public Statement (DPS) Date: July 22, 2026 (Wednesday)
  • Filing of Draft Letter of Offer with SEBI: July 29, 2026 (Wednesday)
  • Last date for a competing offer: August 12, 2026 (Wednesday)
  • Identified Date: August 21, 2026 (Friday)
  • Date by which Letter of Offer will be dispatched to shareholders: August 31, 2026 (Monday)
  • Issue Opening PA Date: September 04, 2026 (Friday)
  • Last date by which Board of Target Company shall give recommendations: September 02, 2026 (Wednesday)
  • Date of commencement of tendering period (Offer opening Date): September 07, 2026 (Monday)
  • Date of expiry of tendering period (Offer closing Date): September 21, 2026 (Monday)
  • Date by which all requirements including payment of consideration would be completed: October 06, 2026 (Tuesday)

The Identified Date (August 21, 2026) is specifically for determining the names of shareholders to whom the Letter of Offer would be sent.

SEBI-Directed Modifications to Letter of Offer

The announcement details several modifications made to the Letter of Offer (LOO) as directed by SEBI:

1. Removal of certain phrases from Risk Factors and other sections: The phrases "To the best of our knowledge..." and "Based on the information available" have been removed from clause 2 of the Risk Factors on Page 03 and clause 7.4.1 on Page 38 of the LOO.

2. Incorporation of new paragraph in clause 5.9: A statement has been added confirming that "As on the date of LOO, no shares held by the Promoter and Promoter Group are under pledge."

3. Incorporation of new paragraph in Risk Factors: Additional text has been added to Para B clause 4 of the Risk Factors regarding proportionate acceptance if validly tendered shares exceed offer shares.

4. Removal of Regulation 3(2) reference: All references to Regulation 3(2) of SEBI (SAST) Regulations, 2011, along with the rationale for trigger under that regulation, have been removed from the LOO. The offer is now stated to be made pursuant to Regulation 4 and other applicable provisions.

Additional Information

The Letter of Offer has been dispatched to all equity shareholders of SBPL whose names appear in the Register of Members as of the Identified Date (August 21, 2026).

The open offer will be implemented through the stock exchange mechanism via a separate Acquisition Window as provided under SEBI (SAST) Regulations.

This is not a competing offer.

Corrigendum to the Detailed Public Statement was published on August 11, 2026, and a Corrigendum to the Public Announcement was filed on July 20, 2026, with SEBI, NSE, BSE, and the Target Company.

Manager to the Offer Details

Corporate Professionals Capital Private Limited is serving as Manager to the Offer with SEBI Registration No: INM000011435. Contact details: D-28, South Ext., Part-I, New Delhi 110049, Ph: +91-11-40622228/+91-11-40622248, Fax: +91-11-40622201, Email: mb@indiacp.com. Primary contact: Nitin Khera.