Mangalam Cement Limited — Others, 09-12-2024: Disclosure under SEBI Takeover Regulations

Mangalam Cement Ltd. has received notifications from promoters Anshuman Vikram Jalan and Vidula Consultancy Services Limited regarding an inter-se transfer of 5,00,000 equity shares following internal restructuring. Specifically, 50,000 shares will be transferred from Pilani Investment and Industries Corporation Ltd. to Jalan, while 4,50,000 shares will shift from Vidula Consultancy to the same acquirer. The acquisition is set to occur at the prevailing market price within four working days, which is expected to bolster the promoters’ collective stake to 33.41%. This internal restructuring could instill confidence among investors by demonstrating strategic alignment within the promoter group, potentially fostering a positive outlook for the share price.