Grand Foundry Limited has informed the Exchange about change in Management
Awaiting price reaction for this filing.
Grand Foundry Limited has announced a change in control through a Share Purchase Agreement (SPA) signed on June 26, 2025, between existing promoter Mrs. Madhu Garg and acquirers Mr. Gaurav Goyal and Mr. Rakesh Kumar Bansal. The acquirers will purchase up to 2,13,50,360 equity shares, representing 70.16% of the company's paid-up share capital, at Rs. 1.40 per share. This will result in a complete change in management and control, with the existing promoters ceasing to be in control and the acquirers taking over the board composition. The acquirers have no prior relationship with the company or its promoters. The transaction is subject to regulatory approvals and completion of a mandatory open offer under SEBI Takeover Regulations, 2011.
Shareholders should expect a mandatory open offer to be launched by the new acquirers at SEBI-prescribed prices, and a potential change in business direction under new management. The very low acquisition price of Rs. 1.40 per share suggests this is a small-cap stock; the open offer price and new management's plans will be key catalysts to watch.