Please refer to the attached Disclosure
Awaiting price reaction for this filing.
Grand Foundry Limited has completed a change in control through an Open Offer. Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal acquired 70.16% stake (2,13,50,360 shares) from Ms. Madhu Garg at Rs. 1.40 per share via SPA dated 26th June 2025, followed by an open offer for additional 26% shares at Rs. 2 per share which closed on 17th November 2025. The open offer was fully subscribed. Ms. Madhu Garg, the outgoing promoter, has been reclassified from 'Promoter/Promoter Group' to 'Public' category. She transferred all her shares: 42,70,072 to Rakesh Kumar Bansal (31st Dec 2025) and 1,70,80,288 to Gaurav Goyal (2nd Jan 2026), now holding zero shares. Post-transaction, the new promoters hold 96.16% of the company. The target company has been incurring losses with negative net worth.
Complete change in management and control from Ms. Madhu Garg to Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal. Public shareholding has reduced significantly to just 3.84%, potentially raising concerns about minimum public float requirements.