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Kurjibhai Rupareliya launches open offer for 13.24% stake in SAB TV Network
Following the transaction, the acquirer will hold 99.92% of SABTNL’s emerging voting share capital.
Open offer for SAB TV Network
Grow House Wealth Management Pvt Ltd, on behalf of Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Ltd (LLFICL), has submitted a Letter of Offer to acquire up to 53,46,238 equity shares of Sri Adhikari Brothers Television Network Ltd (SABTNL), representing 13.24% of the emerging voting share capital.
The open offer, priced at Rs 10 per share, will be conducted under Regulations 3(1) and 4 of SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011. The tendering period will open on October 20, 2025 and close on November 4, 2025.
The acquirer, Rupareliya, has already entered into a Share Purchase Agreement to buy 1.5 crore shares (37.15%) from existing promoter Ruani Media Service Ltd for Rs 15 crore, which will lead to a change in control and management of the company.
Following the transaction, the acquirer will hold 99.92% of SABTNL’s emerging voting share capital. The public shareholding will fall below the required limit, and the acquirer will take steps to restore minimum public shareholding as per SEBI and SCRR norms.
The offer is managed by Grow House Wealth Management Pvt Ltd with Skyline Financial Services Pvt Ltd as registrar.
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