Reg 29 SAST Disclosure - By Promoter & Promoter Group
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Parasmal Kanungo, a promoter of Baroda Extrusion Limited, has increased his stake in the company from 4.73% (70,49,901 shares) to 16.10% (3,12,92,325 shares) after being allotted 2,42,42,424 equity shares on a preferential allotment basis. The shares were issued in exchange for conversion of a loan owed by the company to him. As a result, the company's total equity share capital expanded from 14,90,49,000 to 19,43,82,316 shares of Re. 1 each. The transaction was completed on 28-08-2025, with the disclosure filed under SEBI's SAST Regulation 29(2).
The promoter's more than threefold increase in stake signals strong confidence in the company's future. For shareholders, this means greater promoter skin-in-the-game, though dilution has occurred for existing shareholders due to the preferential issue of new shares.