Avantel Limited has informed the Exchange about General Updates
AVANTEL · price
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Dr. Abburi Vidyasagar, Founder, Chairman & Managing Director of Avantel Limited and Trustee of Lakshmee Foundation, donated 60,00,000 equity shares of Avantel Limited to Lakshmee Foundation on May 4, 2026. The donation is intended to support healthcare-related philanthropic activities, including the operations of Lakshmee Foundation Hospital in Vijayawada, Andhra Pradesh. Lakshmee Foundation, established in 2010, focuses on health, education, women welfare, and relief work in Andhra Pradesh and Telangana. The company submitted the press release to both BSE and NSE for information and records.
Promoter holding has reduced as shares moved from a promoter (Dr. Vidyasagar) to a charitable trust. While the donation is for a social cause, investors should monitor any impact on promoter shareholding thresholds and the company's ongoing CSR commitments.