The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bharat Kumar Mardia
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An individual acquirer, Bharat Kumar Mardia (not part of promoter/promoter group), has disclosed the acquisition of 20,00,000 equity shares (9.77%) of Groarc Industries India Ltd through an off-market transaction on 21 April 2025. His holding rose sharply from 1,17,353 shares (0.57%) to 21,05,263 shares (10.35%) of the company's total share capital of 2,04,66,529 equity shares. This acquisition has crossed the 10% substantial shareholder threshold, triggering the mandatory disclosure under SEBI's Takeover Regulations. The transaction was done off-market, suggesting a negotiated deal rather than open-market purchases.
A non-promoter entity now holds over 10% of the company, which may raise governance concerns for existing shareholders. Investors should watch for further disclosures, as crossing this threshold could attract open-offer obligations if the acquirer reaches 15% or 25%, and may signal a potential change in the company's shareholder structure.