Mukesh Bhandari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ELECTHERM · price
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Mukesh Bhandari, promoter of Electrotherm (India) Limited, has filed the annual Regulation 31(4) declaration stating that he and persons acting in concert have not created any new encumbrance (pledge/lien) on shares during FY ended 31 March 2025. As part of a Family Settlement Agreement (FSA) dated 29 March 2025 between the Mukesh Bhandari and Shailesh Bhandari families, Mukesh Bhandari will transfer 8,09,500 equity shares (6.35% of the company) to Mr. Shailesh Bhandari via off-market inter-se transfer, once conditions of the FSA are met and his shares are freed from any attachment. Additionally, Mrs. Jyoti Bhandari has executed a gift deed for 2,01,525 equity shares (~1.58%) in favour of Mrs. Reema Bhandari. Mukesh Bhandari has also signed a voting agreement in favour of Shailesh Bhandari pursuant to the FSA. Actual share transfers are still under process.
This is a major internal reshuffle of promoter holdings, with Shailesh Bhandari set to emerge with a 6.35% stake plus voting rights over Mukesh Bhandari's shares, which could effectively change control dynamics within the promoter group. Shareholders should track the completion of these transfers, as they may alter the promoter shareholding structure and influence on the company going forward.