OFS8 April 2026 at 02:41 pm
Riddhi Siddhi Gluco Biols Ltd. Promoter to Sell Shares via OFS to Achieve Minimum Public Shareholding
AI Summary
Riddhi Siddhi Gluco Biols Ltd. announced that one of its promoters, Mr. Ganpatraj Lalchand Chowdhary, intends to sell 8,23,422 equity shares representing 11.55% of the total paid-up equity share capital through the Offer for Sale (OFS) mechanism. This sale is aimed at achieving the Minimum Public Shareholding (MPS) of the company, as directed by the Securities Appellate Tribunal (SAT) in an order dated 9th March, 2026. The distribution of shareholding post-OFS will be 75% for promoters and promoter group, and 25% for the public. The company will make further disclosures as required by Regulation 30 and applicable SEBI circulars upon receiving final confirmation from the promoter.
Key Highlights
- Riddhi Siddhi Gluco Biols Ltd. promoter to sell 8,23,422 equity shares.
- Sale aimed at achieving Minimum Public Shareholding (MPS) as per SAT order dated 9th March, 2026.
- Post-OFS, shareholding distribution will be 75% for promoters and 25% for the public.
- Company to make further disclosures as per Regulation 30 and SEBI circulars.
- Sale through the Offer for Sale (OFS) mechanism.