SRM Energy IDC Approves Open Offer at Rs 4 per Share

Independent Directors Committee of SRM Energy Limited recommends open offer by Umesh and Sapna Sanghvi for 26% stake at Rs 4.00 per share as fair and reasonable despite company having no operations.

SRM Energy Reports Q3 FY26 Loss of ₹9.80 Lakhs

SRM Energy Limited reported a net loss of ₹9.80 lakhs for Q3 FY26, with no revenue operations and ongoing financial challenges including eroded net worth and unpaid employee dues.

SRM Energy Reports Quarterly Loss of Rs 12.02 Lakh, Disposes Subsidiary Investment

SRM Energy Limited reported a net loss of Rs 12.02 lakh for the quarter ended September 30, 2025, compared to a loss of Rs 8.55 lakh in the same period last year. The company has no active business operations and continues to incur cash losses. During the quarter, SRM Energy disposed of its entire equity investment of Rs 132 lakh in wholly-owned subsidiary SRM Energy Tamilnadu Private Limited to parent company Spice Energy Private Limited for Rs 1 lakh. The company's accumulated losses have fully eroded its net worth, and current liabilities exceed current assets. Employee salary dues of Rs 18.64 lakh remain unpaid. The statutory auditors issued a qualified opinion citing material uncertainty about the company's ability to continue as a going concern. Other income of Rs 3.77 lakh was recorded from an income tax refund. The company's ability to meet expenses over the next 12 months depends on financial support from its parent company.

SRM Energy Promoter Sells 71.19% Stake to Sanghvi Family, Triggering Management Change

SRM Energy Limited's promoter, Spice Energy Private Limited, has signed a Share Purchase Agreement dated September 25, 2025, to sell 64,50,000 equity shares representing approximately 71.19% of the company's total paid-up share capital to Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi. The transaction will result in a change of management and control of the company upon completion. The acquirers will be required to make an open offer under SEBI takeover regulations, with Sobhagya Capital Options Private Limited appointed as the manager for the open offer. The purchasers are not related to the company or its promoter group in any manner.