Key Quantitative Figures
- Number of shares held prior to transaction: 2 equity shares
- Number of shares sold: 2 equity shares
- Sale price per share: ₹205.50
- Total consideration: ₹411
- Current shareholding: Nil
Dates of Action
- Share sale transaction date: September 1, 2026
- Request letter received: November 10, 2026 at 5:00 PM
- Board meeting scheduled: November 12, 2026
- Disclosure date: November 11, 2026
Parties Involved
- Promoter: Mr. Palaniappan Manivannan
- Stock Exchanges: BSE Limited and National Stock Exchange of India Limited
- Company Secretary: Dr. V. Rajesh
Promoter Declarations and Undertakings
Mr. Palaniappan Manivannan confirmed in writing that:
- Does not exercise, directly or indirectly, any control over the management or affairs of the Company
- Does not enjoy any special rights through formal or informal arrangements, including shareholders' agreements
- Is not represented on the Board of Directors and does not hold any Key Managerial Personnel position
- Is not a wilful defaulter per RBI guidelines and not a fugitive economic offender
- Will not exercise any control over the company after proposed reclassification
- Undertakes to furnish additional declarations and documents as required
Financial Impact
The financial impact of the share sale is minimal with total consideration of ₹411. The reclassification itself has no direct financial impact but changes the promoter classification status.
Next Steps
The Company Secretary has intimated that the request letter will be placed before the Board of Directors in the meeting scheduled for November 12, 2026. The decision will be disseminated to the stock exchanges once taken.
Additional Information
Company address: 21/4, Mill street, Kovilpatti - 628501
Reference number: LOYAL/SEC/2026-27/023