Grand Foundry Limited has informed the exchange with respect to shareholder agreement entered with Sar Televenture Limited for Change in Management Control
Awaiting price reaction for this filing.
Grand Foundry Ltd has informed the exchanges about a Share Purchase Agreement signed on March 3, 2026, between its existing promoters Mr. Gaurav Goyal and Mr. Rakesh Kumar Bansal (sellers) and Sar Televenture Limited (acquirer). Under the deal, Sar Televenture will acquire up to 2,13,51,740 equity shares, representing 70.17% of the company's paid-up share capital, at Rs. 1.50 per share, for an aggregate consideration of about Rs. 3.20 crore. Following the acquisition, the existing promoters will cease to be in control and will be declassified, the acquirer will take over complete management control, and the composition of the Board and key managerial personnel will change. The transaction is subject to regulatory approvals and the completion of a mandatory open offer under SEBI's Takeover Regulations, 2011.
This is a significant control change event for a small-cap listed company — shareholders should expect a mandatory open offer from Sar Televenture at SEBI-prescribed pricing, a likely re-rating attempt under new management, and near-term volatility around deal closure, open offer timing, and regulatory approvals. The very low per-share deal price (Rs. 1.50) reflects the micro-cap nature of the stock and is not necessarily indicative of the open offer price.