Promoter Reclassification15 May 2026, 04:41 pm
Grand Foundry: Open Offer Completed, Promoter Reclassification
AI Summary
Grand Foundry Ltd announced the completion of the open offer by Rakesh Kumar Bansal and Gaurav Goyal on January 5, 2026. Consequently, Madhu Garg has ceased to be classified as a promoter and is now under the 'Public' category, as per Regulation 31A(10) of SEBI LODR. Madhu Garg transferred her shareholding through off-market transactions, with Rakesh Kumar Bansal and Gaurav Goyal as acquirers. The outgoing promoters no longer exercise control over the company, and all special rights have been terminated.
Key Highlights
- Open offer by Rakesh Kumar Bansal and Gaurav Goyal completed on January 5, 2026.
- Madhu Garg reclassified from Promoter to 'Public' category.
- Madhu Garg transferred shares to Rakesh Kumar Bansal and Gaurav Goyal via off-market transactions.
- Outgoing promoters no longer have control or special rights in Grand Foundry Ltd.
- Conditions under Regulation 31A(3)(b) & (c) of SEBI LODR Regulations have been complied with.
Price Impact
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