The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gallantt Trust & PACs
GALLANTT · price
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Gallantt Trust, a private family trust settled by promoter Chandra Prakash Agrawal and part of the promoter group, has acquired 14,48,90,556 equity shares (60.051% of paid-up capital) of Gallantt Ispat Limited via an off-market transaction on March 30-31, 2026. The shares were transferred from six individual promoters/promoter group members, with the largest sellers being Chandra Prakash Agrawal (37.093%) and Madhu Agrawal (8.361%). The acquisition was carried out under a SEBI exemption order dated March 20, 2026, which waived the open offer requirement under SAST Regulations 3(1) and 4. The total promoter group shareholding remains unchanged at 69.907%, and there is no effective change in control since the trust is described as a 'mirror image' of the promoters' holdings. The move is described as an internal family reorganization to streamline succession and welfare of the promoter family.
No material change for public shareholders or stock price — public shareholding stays at 30.093%, control remains within the same promoter family, and minimum public shareholding norms are unaffected. The restructuring consolidates promoter stake under a family trust, which may simplify succession but introduces a trust as the controlling entity.