The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Madhu Garg
Awaiting price reaction for this filing.
Madhu Garg, part of the promoter group of Grand Foundry Ltd, has sold her entire holding of 2,13,50,360 equity shares, representing 70.16% of the company's paid-up share capital. The sale was executed off-market through a Share Purchase Agreement linked to an open offer made to the company's shareholders. Before the sale, she held 2,13,50,360 shares (70.16%), and after the sale her holding stands at zero. The total equity share capital of the company is Rs. 12.17 crore, divided into 3,04,30,000 shares of Rs. 4 each. This effectively means a complete change of promoter/control at Grand Foundry, with the acquirer taking over 70.16% of the company through the open offer route. The date of sale is 2nd January 2026, and the disclosure was filed on 5th January 2026 under SEBI SAST Regulation 29(2).
This is a significant change-of-control event — retail investors should watch for the acquirer's identity, open offer price, and any subsequent delisting or restructuring plans, as a complete promoter exit often triggers re-rating or volatility in the stock.