Gopal Sponge and Power Private 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.
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Gopal Sponge and Power Private Limited, part of the promoter group of Vraj Iron and Steel Limited, has disclosed the acquisition of 55,55,500 equity shares (16.84% stake) from V A Transport Private Limited. This transfer was executed on 27th March 2026 through an off-market inter-se transfer as part of a court-approved Scheme of Merger. The Regional Director, Hyderabad sanctioned the merger on 18th March 2026, merging three transferor companies into Gopal Sponge. As a result, Gopal Sponge's holding in Vraj Iron and Steel increased from 54.52% to 71.36%. The acquisition qualifies for exemption under Regulation 10(1)(d)(iii) of SEBI (SAST) Regulations, meaning no open offer was required.
This is an intra-promoter group consolidation of shareholding through a legal merger process. Gopal Sponge's stake increased significantly to 71.36%, strengthening promoter control. No open offer was triggered as this qualifies for exemption under SEBI regulations.