Pursuant to Reg.7(2) (b) of SEBI (PIT) Regulation 2015, received disclosures from Ashok Matches & Timber Industries Pvt Ltd- Promoters of the company in respect of acquisition of 5,36,597 ....
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India Gelatine & Chemicals Ltd has informed the exchanges that promoter Ashok Matches and Timber Industries Private Limited has acquired 5,36,597 equity shares of the company pursuant to an Open Offer under the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. With this acquisition, the promoter's holding in the company has increased from 13,97,966 shares (19.71%) to 19,34,563 shares (27.27%). The total value of the transaction stands at approximately Rs. 21.94 crore, and the trades were executed on the BSE on April 9, 2025. This filing has been made under Regulation 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015, in Form C.
The promoter group's stake has risen notably from 19.71% to 27.27%, reflecting increased promoter confidence and control. This is a positive signal of promoter commitment, though it does not cross the majority threshold of 50%.