Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
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Shashank Traders Limited has completed a major change of control transaction. AVB Endeavors Pvt Ltd, Prilika Enterprises Pvt Ltd, and Mr. Aditya Vikram Birla (the Incoming Acquirer Group) have acquired 8,24,600 equity shares (26.65% of paid-up capital) at INR 30 per share from outgoing promoter Mr. Praveen Jaswant Rai Jain. The transaction was completed on May 8, 2026 following an open offer under SEBI SAST Regulations. The new acquirers have become promoters and taken control of the company. Four new directors have been appointed including Mr. Aditya Vikram Birla as Non-Executive Chairman and Mr. Anil Kumar Singh as Whole-Time Director. Two independent directors (Mr. Amit Jalan and Mr. Amit Choudhary) resigned citing the change in control. The outgoing promoters have been re-classified from the promoter category to public shareholders as they no longer hold any shares. The company also approved establishing a corporate office in Kolkata.
This is a significant control transaction that changes the company's promoter group from one entity to another. Existing shareholders should note that the new promoters (AVB Endeavors, Prilika Enterprises, and Aditya Vikram Birla) now control 26.65% of equity. The open offer process under SEBI SAST Regulations has been completed, and the stock may see increased volatility due to the change in management and business direction expectations.