Key Quantitative Figures

The disclosure involves the acquisition of 11,52,450 equity shares, representing 30.80% of the total equity share capital of the company.

Breakdown of shares acquired from erstwhile promoters:

  • Alkesh Mahasukhlal Gopani: 6,70,380 shares (17.92%)
  • Vipul Mahasukhlal Gopani: 4,81,370 shares (12.87%)
  • Pravina Mahasukh Gopani: 700 shares (0.02%)

Dates of Action

  • Share Purchase Agreement date: June 08, 2026
  • Disclosure date: August 24, 2026
  • Digital signature timestamp: August 24, 2026 at 17:40:59 IST

Parties Involved

Acquirers:

1. Dhiren Chandulal Shah (Acquirer 1)

2. Sunil Chinubhai Shah (Acquirer 2)

Persons Acting in Concert (PACs):

1. Dhairya Dhiren Shah (PAC 1)

2. Hiren Pravin Doshi (PAC 2)

3. Sheetal Hiren Doshi (PAC 3)

4. Nirmal Sunilbhai Shah (PAC 4)

5. Rupa Sunil Shah (PAC 5)

6. Vijaykumar Natvarlal Shiyani (PAC 6)

7. Kamlesh Natvarlal Shiyani (PAC 7)

8. Abhay Chinubhai Shah (PAC 8)

9. Umang Alkesh Gosalia (PAC 9)

10. Meena Alkesh Gosalia (PAC 10)

Erstwhile Promoters/Sellers:

1. Alkesh Mahasukhlal Gopani

2. Vipul Mahasukhlal Gopani

3. Pravina Mahasukh Gopani

Classification Changes

Upon successful completion of the open offer and share transfer:

  • The Acquirers (Dhiren Chandulal Shah and Sunil Chinubhai Shah), PAC 2 (Hiren Pravin Doshi), and PAC 9 (Umang Alkesh Gosalia) will be classified as Promoters
  • PAC 1, PAC 3, PAC 4, PAC 5, PAC 6, PAC 7, PAC 8, and PAC 10 will be classified as members of the Promoter Group
  • The erstwhile promoters (Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, Pravina Mahasukh Gopani) will be reclassified under the Public Category

Regulatory Compliance Undertakings

The company has received undertakings from the erstwhile promoters confirming compliance with SEBI LODR Regulation 31A(3) conditions, including:

Clause (b) conditions - Promoters shall not:

  • Together hold more than ten percent of total voting rights
  • Exercise control over company affairs directly or indirectly
  • Have any special rights through formal or informal arrangements
  • Be represented on the board of directors (including no nominee director)
  • Act as key managerial personnel
  • Be a 'wilful defaulter' per RBI Guidelines
  • Be a fugitive economic offender

Clause (c)(ii)&(iii) conditions - The listed entity shall:

  • Not have trading in its shares suspended by stock exchanges
  • Not have any outstanding dues to SEBI, stock exchanges, or depositories