Announced Thu, 16 Apr · 15:40 IST
Postal ballot approves sale of non-core land to promoter group trust
Strategic Transactions View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+14.7%1-day move
₹7.50
prior close
₹7.69
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.1+4.0+14.7+6.3+9.3+7.7+6.9+8.9+4.0-5.2-29.2-24.3
Up moveDown movePending
AI summary
LGB Forge shareholders approved via postal ballot the sale of non-core assets (land) to M/s. LGB Educational Institution, a promoter group trust. Of 23.82 crore total shares, only 0.32% voted; 99.74% (7,71,009 votes) in favour, 0.26% against. Promoters holding 17.36 crore shares abstained. Classified as material related party transaction.
Likely market impact
Sale of non-core land to promoter group entity; clears related-party approval hurdle but raises governance questions on pricing fairness.