The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Balaji Raghavan & Others
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Ironwood Education Limited has disclosed a change in shareholding under SEBI (SAST) Regulations, 2011, pursuant to an Open Offer. Four acquirers — Balaji Raghavan, Manojshankar Tripathi, Rushabh Chaubey, and Nitish Nagori — collectively acquired 12,26,027 equity shares (8.14% of total capital) on May 28, 2025. The combined holding of the acquirers and existing promoter group has risen from 74.05% to 82.19% post-acquisition. The acquirers, who do not belong to the existing promoter group, will now assume control and be classified as promoters of the company, while the current promoters will continue in that role. This effectively represents a change of control at Ironwood Education.
This is a significant change-of-control event with new promoters entering the company via the open offer route, increasing the promoter-acquirer stake to over 82%. Shareholders should note a potential shift in management direction and corporate strategy as new promoters take charge.