Ashapura Industrial Finance Limited has disclosed the sale of equity shares in Ashapura Minechem Limited, in compliance with SEBI's substantial acquisition regulations. The transaction represents a minor reduction in the promoter group's shareholding in the target company.

Transaction Details

The share sale transaction involved specific quantities and resulted in a marginal change in shareholding percentage. The following table summarizes the key transaction parameters:

Shareholding Changes

The transaction resulted in a reduction of Ashapura Industrial Finance Limited's stake in Ashapura Minechem Limited. The company's shareholding position before and after the transaction shows the following changes:

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. Ashapura Industrial Finance Limited belongs to the promoter group of Ashapura Minechem Limited, making this disclosure mandatory for the transaction.

Company Information

Ashapura Minechem Limited's equity shares are listed on both BSE Limited and National Stock Exchange of India Limited. The company's total equity share capital remains unchanged at 9,55,26,098 equity shares of Rs. 2/- each following this transaction.

The disclosure was signed by Suryakant Shah as the authorized signatory for Ashapura Industrial Finance Limited on 30th March, 2026, and communicated to both stock exchanges where the target company's shares are listed.

Ashapura Minechem Limited has issued a comprehensive postal ballot notice dated March 27, 2026, seeking shareholder approval for five special resolutions covering employee stock options, board appointments, and corporate governance matters. The e-voting period is scheduled from March 29, 2026 to April 27, 2026.

Newspaper Publication and Regulatory Compliance

On March 28, 2026, the company published the postal ballot notice in newspapers as required under Regulation 30. The notice was published in Free Press Journal (English Edition) and Navshakti (Marathi Edition), ensuring wide dissemination to shareholders. The company has also made the notice available on its website www.ashapura.com for easy access.

Employee Stock Option Plan 2026

The company proposes to adopt and implement the "Ashapura Minechem Limited - Employee Stock Option Plan 2026" (ESOP 2026) to reward eligible employees and directors. The plan encompasses comprehensive provisions for stock option grants and employee participation in the company's growth.

The ESOP 2026 includes provisions for financial assistance to eligible employees and allows for fair adjustments in case of corporate actions such as rights issues, bonus issues, mergers, and capital restructuring. The plan will be administered by the Nomination and Remuneration Committee under the Board's superintendence.

Leadership Re-appointment

The postal ballot seeks approval for the re-appointment of Shri Hemul Shah as Executive Director & CEO for a two-year term from February 16, 2026 to February 15, 2028. Shah, a Commerce Graduate with over three decades of experience with the Ashapura Group, brings strong business acumen and strategic intelligence to his role.

Board Strengthening with Independent Directors

Two new independent directors are proposed for regularization following their appointments on February 5, 2026:

Shri Jagdish Shetty (DIN: 02152377) - A seasoned Chartered Accountant with over two decades of experience in taxation, audit, corporate compliance, and regulatory matters. He holds additional qualifications including DISA (ICAI), L.L.B., and Forensic Accounting certifications.

Shri Wilson Mathais (DIN: 11492508) - A practicing Chartered Accountant with extensive experience in accounts, audit, taxation, and regulatory compliance. He serves as Proprietor of Mathais Wilson and Associates and Partner in Alexander & Co., Chartered Accountants.

Both directors will serve five-year terms as Non-Executive Independent Directors, bringing valuable expertise in financial management, regulatory compliance, and corporate governance to strengthen the Board's capabilities.

Voting Process and Timeline

The company has appointed Shri Virendra Bhatt (ACS No. 1157, COP No. 124) as Scrutinizer for conducting the postal ballot. Central Depository Services (India) Limited (CDSL) will provide the e-voting facility to shareholders.

The postal ballot notice includes detailed instructions for e-voting through depositories (CDSL/NSDL) for demat shareholders and through CDSL's platform for physical shareholders. Results will be communicated to stock exchanges and published on the company's website www.ashapura.com .