Key Quantitative Figures

  • Total shares proposed for sale: 38,00,000 Equity Shares of face value ₹5 each
  • Percentage of shareholding to be divested: 3.61% of total paid-up equity share capital
  • Current promoter group holding: 8,28,29,592 Equity Shares (78.59% of total paid-up equity)
  • Target public shareholding: At least 25% upon completion of sale

Promoters Involved in Share Sale

  • Mr. Khubilal Jugraj Rathod: 22,80,000 shares (2.16% of total paid-up equity)
  • Mr. Vimalchand Jugraj Rathod: 15,20,000 shares (1.45% of total paid-up equity)

Sale Period

The proposed sale shall be undertaken during the period commencing from November 16, 2026 or onwards till November 30, 2026, or actual date of completion of sale of all Equity Shares, in one or more tranches, whichever is earlier.

Regulatory Framework

The sale is being undertaken in accordance with:

  • Rule 19(2)(b) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957
  • Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI circular no. SEBVHO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
  • Chapter VI, Section VI-A of the SEBI Master Circular bearing reference no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Conditions and Restrictions

The sale must comply with Master Circular conditions including:

  • Public shareholding must reach at least 25% upon completion
  • Amount of shares sold shall not exceed the trading volume of the company's shares during preceding 12 months
  • Promoters cannot purchase any shares during the sale dates

Undertakings Provided

Five promoter group members provided written undertakings not to purchase any Equity Shares from the open market on the dates when the proposed sale will be undertaken:

1. Mr. Khubilal Jugraj Rathod (selling promoter)

2. Mr. Vimalchand Jugraj Rathod (selling promoter)

3. Mr. Rajesh Khubilal Rathod

4. Mr. Mohit Khubilal Rathod

5. Mr. Sumit Rathod