Twamev Construction and Infrastructure Limited has intimated the stock exchanges about a proposed sale of equity shares by one of its promoters to achieve Minimum Public Shareholding (MPS) compliance.
Key Transaction Details
- Promoter Involved: Mr. Ravi Todi
- Number of Shares: 30,00,000 equity shares of face value Re. 1/- each
- Percentage of Total Equity: 1.94% of total paid-up equity share capital
- Sale Method: Open market route through stock exchanges
- Sale Period: From Monday, 22nd June, 2026 to Tuesday, 30th June, 2026, or until completion of sale, whichever is earlier
Purpose and Rationale
The proposed sale is solely for achieving Minimum Public Shareholding (MPS) requirements as mandated by SEBI and applicable regulations under Rule 19A of SCRR and Regulation 38 of SEBI LODR Regulations.
Regulatory Compliance Undertaking
Mr. Ravi Todi has provided a written undertaking (Annexure-A) confirming that:
- He will not purchase any equity shares of the company in the open market on the dates when the proposed sale is carried out
- This restriction applies for the continuous period from June 22, 2026 to June 30, 2026, or until completion of sale
- The transaction will comply with SEBI (Prohibition of Insider Trading) Regulations, 2015 and SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Important Notes
- This transaction involving approximately 1.94% of paid-up equity share capital will not fulfill the entire MPS obligation
- The company intends to utilize other permissible methods as prescribed under SEBI Circular to fully comply with MPS requirements
- The company will ensure compliance with all applicable provisions including insider trading and takeover regulations