Please find attached disclosure received from GMD Corporate Advisors LLP under reg. 29 of SEBI (SAST), Regulations 2011.
Awaiting price reaction for this filing.
GMD Corporate Advisors LLP, a non-promoter entity, acquired 1,90,800 equity shares (5.6%) of Ashoka Refineries Limited through an off-market transaction on 21 May 2026. This is a one-time acquisition by an external acquirer, taking its total holding in the company to 1,90,800 shares (5.6% of the total equity share capital of 3,40,19,000 shares). The acquirer does not belong to the promoter/promoter group of the company. The disclosure was filed under Regulation 29(1) of SEBI Takeover Regulations because the acquirer crossed the 5% shareholding disclosure threshold.
A new non-promoter entity has entered the shareholder list with a 5.6% stake via an off-market deal, which typically signals a private negotiated transaction rather than open market activity. Investors should monitor further filings from GMD Corporate Advisors LLP, as any additional purchases up to 10% (the creeping acquisition limit) would not require an open offer.