Key Quantitative Figures
- Number of shares intended for sale: 10,00,000 (1 million) equity shares
- Sale represents shares held by promoters and members of promoter group
Parties Involved
Selling Parties:
- Santosh Kumar Yadav (Promoter, Chairman and Managing Director)
- Anju Devi (Promoter and Wholetime Director)
- Manohar Lal (Non-Executive Non-Independent Director)
- Members of promoter group (unspecified)
Company Officials:
- Jitendra Kumar Sharma (Company Secretary & Compliance Officer)
Purpose/Rationale
Sale is intended for "personal and financial reason" as stated by the promoters.
Conditions and Approvals Required
The proposed share sale is subject to:
1. Completion of qualified institutions placement (QIP) if undertaken within next two months
2. Receipt of pre-clearance under SEBI Insider Trading Regulations
3. Approvals under Company's Prevention of Insider Trading Policy
4. Other requisite approvals as may be required
Financial Impact
Potential dilution of promoter holding by up to 1 million shares. Exact financial impact depends on eventual sale price and timing.
Additional Information
The promoters have provided an undertaking affirming that the sale shall be subject to receipt of required pre-clearance and approvals from the Company Secretary and Compliance Officer.