StockWatch
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Trading & Distributors
Shareholding19 Jun 2026, 05:21 pm

Riddhi Siddhi Promoter Sells 8.23 Lakh Shares via OFS

AI Summary

Vital Connections LLP, a promoter group shareholder of Riddhi Siddhi Gluco Biols Ltd, proposes to sell up to 8,23,422 equity shares, representing 11.55% of the total paid-up capital. The Offer for Sale (OFS) will be conducted on June 22, 2026, for non-retail investors and June 23, 2026, for retail investors, through the stock exchange mechanism. This sale is primarily aimed at achieving the company's Minimum Public Shareholding (MPS) requirements, following a SEBI order and subsequent modifications by the Securities Appellate Tribunal (SAT). Kotak Securities Limited is appointed as the Seller's Broker for this transaction.

Key Highlights

  • Promoter group entity to sell 11.55% stake via OFS.
  • Sale aims to meet Minimum Public Shareholding (MPS) norms.
  • OFS dates: June 22 (non-retail) and June 23 (retail), 2026.
  • SEBI order and SAT modifications necessitated the sale.