The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(d)(iii)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
SANDUMA · price
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On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.1 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lohagiri Industrials Private Limited, part of the promoter group, acquired additional shares of Sandur Manganese & Iron Ores Ltd pursuant to an NCLT Bengaluru order dated 29 October 2025 that approved the amalgamation of Euro Industrial Enterprises Pvt Ltd, Sandur Sales and Services Pvt Ltd, and Sandur Udyog Pvt Ltd into Lohagiri Industrials. Following the merger, Lohagiri's stake in Sandur Manganese rose from 1,59,39,090 shares (3.28%) to 8,84,08,836 shares (18.19%) on 15 December 2025. No cash consideration was paid — this was an internal promoter group restructuring, with the transferor companies' shares in Sandur simply being re-credited to Lohagiri. Total promoter and promoter-group (PAC) holding in Sandur Manganese remains unchanged at 74.22%, so ultimate control stays with the Ghorpade family (Bahirji Ajai Ghorpade continues to hold over 33% voting rights). The acquisition qualifies for an exemption under Regulation 10(1)(d)(ii) since it arose from a court/NCLT-approved scheme, so no open offer obligation is triggered.
This is an internal reshuffle within the existing promoter group with no change in ultimate control or public shareholding — neutral for minority shareholders and unlikely to materially impact the stock price. No open offer has been triggered because of the SEBI exemption available for NCLT-approved schemes.