Ashapura Minechem promoter Chetan Navnitlal Shah acquired 25,000 equity shares in the open market on August 26, 2026. The transaction increases his total holding to 66,52,767 shares.

The acquisition brings Shah’s stake to 6.96% of the company’s total voting capital. This follows a pre-acquisition holding of 66,27,767 shares, which represented 6.94% of the diluted share capital.

What the Numbers Show

The purchase adds 0.03% to the promoter’s voting rights. The total equity share capital of Ashapura Minechem remains unchanged at 9,55,26,098 equity shares of ₹2 each. No warrants or convertible securities were involved in the transaction.

Regulatory Disclosure

The disclosure complies with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the BSE and NSE on August 27, 2026.

Shah holds no encumbered shares or other instruments entitling him to voting rights. The mode of acquisition was strictly through the open market.

Ashapura Minechem has appointed promoter Chetan Shah as Chief – Strategy & Planning, effective October 1, 2026. The board also approved convening the company’s 45th annual general meeting on September 29, 2026.

Shah will not seek re-appointment as a director at the ensuing AGM owing to sub-judicial litigation. Despite stepping down from the board, he will continue his association with the Ashapura Group in a strategic capacity. The board approved his appointment as a designated key managerial personnel (KMP) to leverage his extensive experience and strategic expertise.

Key Details of Appointment

Shah’s role involves providing strategic guidance and business development, including identifying new opportunities across different geographies. As a designated KMP, he is eligible for an annual remuneration of up to ₹2 crore, along with applicable perquisites and benefits under the company’s HR policy. This remuneration structure requires shareholder approval at the upcoming AGM.

In accordance with Regulation 30(5) of the SEBI Listing Regulations, Shah has been authorized to determine the materiality of events or information and make requisite disclosures to stock exchanges starting October 1, 2026.

Board Meeting Outcome

The board meeting was held on August 27, 2026, starting at 4:00 pm and concluding at 6:00 pm. The decisions were disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shah brings over four decades of experience in the mining and minerals industry. Under his leadership, the Ashapura Group evolved from a single-product mining company into a diversified global minerals enterprise. He possesses extensive expertise in resource development, international business, and corporate management.