Grand Foundry Ltd: Promoters Seek Reclassification Post-Acquisition

Grand Foundry Ltd has filed a disclosure under SEBI regulations regarding the re-classification of its erstwhile promoters, Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal, to 'Non-Promoter/Public' category. This follows the acquisition of 70.17% equity by Sar Televenture Limited, leading to a change in control and management. The erstwhile promoters have sold their entire shareholding, amounting to 14.04% and 56.13% respectively, to the acquirer. The open offer to public shareholders has also been completed. The company confirms that the outgoing promoters no longer exercise control, are not involved in management, and hold no board positions or special rights.