Sri Adhikari Brothers stock gains 5% as Sera Investment cuts stake to 18.91%
The development comes a day after SABTNL announced the resignation of six board members, including Managing Director Kailasnath Markand Adhikari and Chairman & Non-Executive Director Ravi Gautam Adhikari, amid a management overhaul triggered by an ongoing open offer.
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Sera Investment Finance India Ltd has offloaded a significant portion of its stake in Sri Adhikari Brothers Television Network Ltd (SABTNL), selling 200,000 shares of Sri Adhikari Brothers Television Network Ltd, representing 0.80% of the company’s total equity. The investor’s stake fell from 19.71% in September 2025 to 18.91% after the sale.
The transaction was executed through the open market, the company said in a stock exchange filing.
The development comes a day after SABTNL announced the resignation of six board members, including Managing Director Kailasnath Markand Adhikari and Chairman & Non-Executive Director Ravi Gautam Adhikari, amid a management overhaul triggered by an ongoing open offer.
Independent directors Pritesh Rajgor, Dr. Ganesh Prasad Raut, Umakanth Bhyravajoshyulu, and Non-Executive Director Latasha Laxman Jadhav also stepped down. The company said all resignations have been taken on record and the board changes are now effective.
These exits follow an open-offer process initiated by Grow House Wealth Management Pvt Ltd, acting on behalf of Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Ltd (LLFICL). The offer seeks to acquire up to 53,46,238 equity shares, representing 13.24% of SABTNL’s emerging voting share capital.
In June, promoter entity Ruani Media Service Ltd sold 1.5 crore equity shares—about 59.12% of SABTNL’s existing equity capital—to Kurjibhai Rupareliya, signaling the beginning of a major ownership transition at the broadcasting company.
The stock of Sri Adhikari Brothers Television Limited was up 5% on Wednesday, trading at Rs 1,130.15 apiece at 12:23 pm IST.
