Promoters Increase Stake in Nilachal Refractories Ltd Through Off Market Sales
The promoter group of Nilachal Refractories Limited has increased its combined stake following multiple acquisitions by Pankaj Jalan, Bhagwati Prasad Jalan, and Niraj Jalan. The purchases were conducted through off market sales during 2023.The acquisition details for the individuals are as follows:
Pankaj Jalan Acquisition
Pankaj Jalan acquired shares in Nilachal Refractories Limited. Prior to the transaction, Pankaj Jalan held 3,67,000 shares (1.80% of total diluted share/voting capital). Following the acquisition of 6,65,000 shares, his holding increased to 10,32,000 shares, representing 5.07% of the total diluted share/voting capital. The transaction mode was noted as Off market Sale.| Holding Stage | Shares Carrying Voting Rights (A) | % w.r.t. Total Share Capital | Shares Acquired (B) | Percentage Acquired |
|---|---|---|---|---|
| Before Acquisition | 3,67,000 | 1.80% | N/A | N/A |
| After Acquisition | 10,32,000 | 5.07% | 6,65,000 | 3.27% |
Bhagwati Prasad Jalan Acquisition
Bhagwati Prasad Jalan also increased his stake in Nilachal Refractories Limited through an Off market Sale. Before the acquisition, he held 5,50,584 shares (2.70% of total diluted share/voting capital). The purchase resulted in his holding rising to 7,15,584 shares, which represents 3.51% of the total diluted share/voting capital.| Holding Stage | Shares Carrying Voting Rights (A) | % w.r.t. Total Share Capital | Shares Acquired (B) | Percentage Acquired |
|---|---|---|---|---|
| Before Acquisition | 5,50,584 | 2.70% | N/A | N/A |
| After Acquisition | 7,15,584 | 3.51% | 1,65,000 | 0.81% |
Niraj Jalan Acquisition
Similarly, Niraj Jalan acquired shares in Nilachal Refractories Limited via Off market Sale. Prior to the acquisition, his holding stood at 6,40,000 shares (3.14% of total diluted share/voting capital). After acquiring 1,50,000 shares, his total stake reached 7,90,000 shares, translating to 3.88% of the total diluted share/voting capital.| Holding Stage | Shares Carrying Voting Rights (A) | % w.r.t. Total Share Capital | Shares Acquired (B) | Percentage Acquired |
|---|---|---|---|---|
| Before Acquisition | 6,40,000 | 3.14% | N/A | N/A |
| After Acquisition | 7,90,000 | 3.88% | 1,50,000 | 0.74% |
Stock Price Movement
Nilachal Refractories Ltd closed on Friday, settling at ₹45.50, after shares ticked up 3.43% in the post-market session. Throughout the day, the stock experienced movement within its intraday range, fluctuating between a low of ₹40.02 and a high of ₹45.50.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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