Shankara Buildpro Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
BUILDPRO · price
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Shankara Buildpro Limited (BUILDPRO) got listed on BSE and NSE on January 9, 2026, following a court-approved demerger from Shankara Building Products Limited. Under the scheme sanctioned by the NCLT Bengaluru Bench on August 21, 2025, Buildpro allotted 97,42,537 equity shares (40.18% of paid-up capital) to the promoter and promoter group on September 26, 2025, at a 1:1 entitlement ratio. Post-allotment, promoter Sukumar Srinivas holds 38.72%, while the promoter group collectively holds about 40.17% of the company. This acquisition is exempt from making an open offer to public shareholders under Regulation 10(1)(d)(ii) of the SEBI Takeover Code, as the shares were received through a sanctioned scheme of arrangement rather than a market purchase.
This is a procedural disclosure tied to the listing of Buildpro shares after the demerger — no cash transaction or open offer is involved. Shareholders should note that the promoter group holds less than 50% post-listing, meaning the company does not have a controlling promoter, which could affect long-term control dynamics and any future takeover scenarios.