AVANTEL · price
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Dr. Abburi Vidyasagar, Founder, Chairman & Managing Director of Avantel Ltd, has donated 60,00,000 (60 lakh) equity shares of Avantel Limited to Lakshmee Foundation on May 4, 2026. The shares will support healthcare-related philanthropic activities, including operations of Lakshmee Foundation Hospital in Vijayawada. Lakshmee Foundation is a charitable trust focused on healthcare, education, women welfare, and social welfare in Andhra Pradesh and Telangana. Dr. Vidyasagar serves as a trustee of the foundation, which was instituted in 2010 in memory of Late Smt. Abburi Lakshmeekantham.
This large share donation by the CMD to a charitable foundation may alter Avantel's shareholding pattern and reduce promoter holding. Shareholders should monitor subsequent disclosures on shareholding changes. The initiative reflects positively on the company's social responsibility image.