Mangalam Cement Limited has informed the Exchange regarding 'Disclosure Of Intimation Received From The Promoters / Member Of Promoters Group Under Regulation 10(5) SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011'.
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Mangalam Cement informed the exchanges about an internal reshuffle within its promoter group. Two promoter group entities — Vidula Consultancy Services Limited and Rambara Trading Private Limited — will each acquire 2,50,000 equity shares (total 5,00,000 shares, about 1.82% of capital) from Pilani Investment and Industries Corporation Ltd. The transfer will happen at the prevailing market price, with the 60-day volume-weighted average price reference being Rs. 753.69 per share. The acquirers' combined promoter group holding (including persons acting in concert) goes from 36.72% to 37.63%, while Pilani Investment's holding drops from 3.71% to 1.89% — but the total promoter group stake remains unchanged. The transaction is exempt from an open offer under Regulation 10(1)(a)(ii) of the SEBI Takeover Regulations as it qualifies as an inter-se promoter group transfer for internal restructuring.
No material impact on shareholders or the stock — this is purely an internal reorganization within the promoter group with no change in total promoter ownership. The exemption from open offer confirms the transfer does not trigger any takeover obligations.