Grand Foundry Limited Files SEBI SAST Compliance Declaration for FY2026

Grand Foundry Limited has filed its mandatory annual disclosure under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the shareholding details of its promoter group for the financial year ended March 31, 2026. The disclosure was submitted to both BSE and NSE on April 2, 2026.

Promoter Group Shareholding Details

The company's promoter and promoter group hold a total of 2,13,51,740 equity shares as of March 31, 2026. The shareholding is distributed between two key promoters:

Promoter Name: Shareholding Mr. Gaurav Goyal: 1,70,80,288 equity shares Mr. Rakesh Kumar Bansal: 42,71,452 equity shares Total Promoter Holding: 2,13,51,740 equity shares

Compliance Declaration

In accordance with Regulation 31(4) of SEBI SAST Regulations, the company has declared that no encumbrance was created on the shares held by the promoter and promoter group, either directly or indirectly, during the financial year ended March 31, 2026. This declaration was made by Mr. Gaurav Goyal on behalf of himself and the entire promoter group.

Regulatory Filing Details

Company Secretary Sonia Arora submitted the compliance documents to the stock exchanges on April 2, 2026. The filing was addressed to:

BSE Limited: Corporate Relations Department, Phizore Jeejeeboy Towers, Dalal Street, Mumbai

NSE Limited: Market Operations Department, Exchange Plaza, Bandra Kurla Complex, Mumbai

The disclosure fulfills the company's regulatory obligations under SEBI's substantial acquisition and takeover regulations, ensuring transparency in promoter shareholding patterns and any potential encumbrances on their holdings.

SAR Televenture Limited has announced a mandatory open offer to acquire up to 79,11,800 equity shares of Grand Foundry Limited, representing 26% of the target company's total paid-up equity share capital. The offer price is set at Rs. 2.50 per fully paid equity share of face value Rs. 4.00 each, payable in cash.

Offer Structure and Timeline

The open offer is being made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The offer is unconditional and not subject to any minimum level of acceptance from shareholders.

Parameter: Details Offer Size: 79,11,800 equity shares (26%) Offer Price: Rs. 2.50 per share Face Value: Rs. 4.00 per share Tendering Period: April 30, 2026 to May 14, 2026 Total Consideration: Rs. 1,97,79,500

Share Purchase Agreement Details

The open offer follows a share purchase agreement dated March 3, 2026, between SAR Televenture Limited and the existing promoters of Grand Foundry Limited. Under this agreement, SAR Televenture will acquire 2,13,51,740 equity shares representing 70.17% of the total issued and paid-up equity capital.

Seller: Shares Percentage Price per Share Total Consideration Mr. Rakesh Kumar Bansal: 42,71,452 14.04% Rs. 1.50 Rs. 64,07,178 Mr. Gaurav Goyal: 1,70,80,288 56.13% Rs. 1.50 Rs. 2,56,20,432 Total: 2,13,51,740 70.17% Rs. 1.50 Rs. 3,20,27,610

Company Profiles

SAR Televenture Limited was incorporated on May 24, 2019, and is engaged in providing telecom infrastructure and technology solutions. The company focuses on tower infrastructure development, FTTH network deployment, and smart technology systems implementation. SAR Televenture's equity shares are listed on the Emerge platform of NSE with scrip code SARTELE.

Grand Foundry Limited was originally incorporated as a private limited company on March 30, 1973, and later converted to a public limited company in 1992. The company's shares are listed on both NSE (Symbol: GFSTEELS) and BSE (Scrip Code: 513343).

Financial Arrangements

SAR Televenture has made adequate financial arrangements for the offer, with CA Jatin Raheja certifying the company's net worth at Rs. 80,017.96 lakhs as of September 30, 2025. The acquirer has deposited Rs. 50,00,000 in an escrow account with Axis Bank Limited, representing more than 25% of the total consideration payable.

Post-Offer Shareholding Pattern

Assuming full acceptance of the open offer, SAR Televenture's total shareholding in Grand Foundry Limited will reach 96.17%, while public shareholding will reduce to 3.83%. This will result in public shareholding falling below the minimum 25% requirement for continuous listing, which the acquirer has undertaken to address within stipulated timelines.

Key Dates and Regulatory Compliance

The offer schedule includes publication of the detailed public statement on March 10, 2026, with the identified date set as April 16, 2026. The committee of independent directors of Grand Foundry Limited will provide their recommendations by April 28, 2026. BSE has been designated as the stock exchange for tendering shares, with settlement to be conducted through the stock exchange mechanism as per SEBI regulations.

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