Intimation regarding change of promoter shareholding
Awaiting price reaction for this filing.
Existing promoter El Dorado Guarantee Limited has transferred its entire 4,90,051 equity shares (49.01% of paid-up capital) to Mr. Sachidanand Hariram Upadhyay via a Share Purchase Agreement dated 16th October 2025. In line with SEBI Takeover Regulations, the acquirer has made an Open Offer to the public shareholders. Post-completion, Mr. Sachidanand Hariram Upadhyay has become the new promoter, and El Dorado Guarantee Limited has ceased to be the promoter.
This is a full change of control at the promoter level. Public shareholders now have an opportunity to tender shares in the Open Offer. The new promoter holds just 49.01%, so any future purchase crossing 50% or further acquisitions could trigger additional SEBI open offer obligations.