The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Madhu Agarwal
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SSF Specialty Alloys Limited, acting as a Promoter/PAC, sold 3,19,250 shares (1.57% of voting capital) of Nilachal Refractories Ltd through an off-market transaction on 22.04.2026. Before the sale, the acquirer held 3,19,250 shares representing 1.57% of the company. After completing this disposal, the acquirer's holding has reduced to zero. The transaction was executed in Kolkata and signed on 24.04.2026.
A promoter entity has completely exited its stake in Nilachal Refractories Ltd, which could signal reduced promoter confidence or consolidation within the promoter group. Complete exit by a promoter may raise concerns among retail investors about the company's future prospects.