Mangalam Cement Receives Intimation of Share Transfers Among Promoters
Mangalam Cement Limited announced that it received notifications from Rambara Trading Private Limited, AVA Trading and Consulting Private Limited, and Mignonette Creations Private Limited regarding the transfer of 10,00,000 equity shares. These transfers occurred as an inter-se transfer among promoters/promoter group members.Here's a breakdown of the share transfers:
| Transferor | Transferee | No. of Equity Shares |
|---|---|---|
| Aditya Birla Real Estate Limited | Rambara Trading Private Limited | 4,80,000 |
| Aditya Birla Real Estate Limited | AVA Trading and Consulting Private Limited | 5,00,000 |
| Pilani Investment and Industries Corporation Ltd. | Mignonette Creations Private Limited | 20,000 |
The shares were transferred at the prevailing market price.
Shareholding Changes
The following table details the changes in shareholding as a result of these transfers:
Before the Transfers
| Entity | No. of Shares | % of Capital |
|---|---|---|
| Acquirer(s) and PACs (other than sellers) | 86,21,909 | 31.36% |
| Seller(s) | 23,77,711 | 8.65% |
After the Transfers
| Entity | No. of Shares | % of Capital |
|---|---|---|
| Acquirer(s) and PACs (other than sellers) | 91,01,909 | 33.10% |
| Seller(s) | 18,97,711 | 6.90% |
Following the transfers to Mignonette Creations, the shareholding of Acquirer(s) and PACs (other than sellers) increased to 1,09,99,620 shares, representing 40.00% of the total share capital.
The transactions were carried out in accordance with Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which provides for exemptions. The acquisition price did not exceed 25% above the volume-weighted average market price for the preceding 60 trading days, which was Rs. 821.71 per share.
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