The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Deepti Agrwal & Others
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The promoters of NDA Securities Ltd — Mrs. Deepti Agrwal, Mr. N.D. Agarwal, Mrs. Saroj Agarwal, and NDA Research and Technologies Pvt. Ltd. — together sold 23,63,235 equity shares (39.73% of total share capital) to Mr. Ram Gopal Jindal through an off-market deal on May 19, 2025, pursuant to a Share Purchase Agreement dated February 1, 2024. Before the sale, the promoter group held 41.07% (24,43,235 shares); after the sale, their combined holding is down to just 1.34% (80,000 shares held only by Mrs. Saroj Agarwal). Mr. N.D. Agarwal (38.41%), Mrs. Deepti Agrwal (0.48%), and NDA Research (0.84%) have completely exited. The transaction was executed at the company's existing equity base of 59,48,364 shares of ₹10 each, with no change in total share capital.
This is a near-complete promoter exit — the founding family is selling its controlling stake to a single buyer, which is a significant event for retail investors as it means loss of original promoter stewardship and a shift in control to Mr. Ram Gopal Jindal. Existing minority shareholders should monitor for further disclosures, including any open offer trigger analysis, the new acquirer's plans for the company, and potential re-rating or volatility given the change in ownership.