The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Radhika Securities Private Limited (part of the Promoter Group) acquired 616,732 equity shares (10.32% of share capital) from Ganesha Securities Private Limited (also part of the Promoter Group) of Rasandik Engineering Industries India Ltd. The transfer was made without any consideration pursuant to a Confirmatory Order of a Scheme of Amalgamation by the Regional Director (NR) dated February 14, 2025. After the transfer, Radhika Securities' holding in the company rises from 848,583 shares (14.20%) to 1,465,315 shares (24.52%), while Ganesha Securities' holding goes down to NIL. The aggregate Promoter and Promoter Group shareholding in the company remains unchanged before and after this transaction. The acquisition qualifies for exemption under Regulation 10(1)(a)(i) and (ii) of SEBI (SAST) Regulations, 2011, so no open offer is triggered.
This is an internal restructuring within the promoter family and not a market transaction, so there is no direct impact on the stock price or minority shareholders. Total promoter control in the company remains the same, and no open offer obligation arises for public shareholders.