Sharp Corporation Japan executed a Share Purchase Agreement to sell its entire 75% stake (1.94 crore shares) in Sharp India Limited to Smart Services Private Limited for ₹19.46 crore.
The transaction triggers an open offer requirement to public shareholders under SEBI Takeover Regulations as it constitutes a change in control.
Upon completion, Sharp Corporation will cease to be the promoter and will no longer hold any shares in Sharp India Limited.
The transaction is not a related party transaction and does not impose any restrictions or liabilities on Sharp India Limited.