Grand Foundry Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Grand Foundry Limited's Open Offer by Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal has been completed on 5th January, 2026. Ms. Madhu Garg, the outgoing promoter, has been reclassified from Promoter category to Public category. The acquirers purchased shares through off-market transfers: Rakesh Kumar Bansal acquired 42,70,072 shares on 31st December, 2025, and Gaurav Goyal acquired 1,70,80,288 shares on 2nd January, 2026, at Rs. 1.40 per share under a Share Purchase Agreement dated 26th June, 2025. The Open Offer was for up to 79,11,800 equity shares (26%) at Rs. 2 per share. Post-completion, the acquirers hold approximately 96.16% of the company, while Madhu Garg now holds zero shares. The company confirms outgoing promoters do not exercise control and all special rights have been terminated.
This marks a complete change in control of Grand Foundry Limited from Madhu Garg to the new acquirers. The promoters have consolidated their holding to 96.16%, significantly reducing public float and potentially impacting liquidity and shareholder structure.