Ashoka Metcast sells 2.48M Mena Mani Industries shares in open market

Ashoka Metcast Limited has disposed of 2,486,112 equity shares in Mena Mani Industries through an open market sale. The transactions were executed over a period spanning from June 20, 2025, to August 18, 2026. The disclosure was submitted to BSE Limited on August 19, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The sale significantly reduced the direct equity stake held by Ashoka Metcast Limited. Prior to this disposal, the company held 12,500,000 shares, representing 10.76% of the total voting capital. Following the open market sale, its holding stands at 10,013,888 shares, or 8.62%.

Consolidated Holding Reduction

Ashoka Metcast Limited is part of a group of Persons Acting in Concert (PAC) that includes Lesha Industries Limited, Shalin Ashok Shah, Ashok Chinubhai Shah, and Leena Ashok Shah. The combined holding of this group also declined due to the sale by the primary entity.

Entity	Shares Held Before	% Holding Before	Shares Held After	% Holding After
Ashoka Metcast Limited	12,500,000	10.76%	10,013,888	8.62%
Lesha Industries Limited	130,900	0.11%	130,900	0.11%
Shalin Ashok Shah	143,730	0.12%	143,730	0.12%
Ashok Chinubhai Shah	83,910	0.07%	83,910	0.07%
Leena Ashok Shah	45,790	0.04%	45,790	0.04%
Total (PAC Group)	12,904,330	11.11%	10,418,218	8.97%

The PAC group’s total voting rights decreased from 11.11% to 8.97% of the total diluted share capital. The individual holdings of Lesha Industries Limited and the three named individuals remained unchanged during this period.

What the Numbers Show

The disposal represents a reduction of 2.14% in the total voting capital for both Ashoka Metcast Limited individually and the PAC group collectively. This move brings the group's consolidated stake below the 10% threshold, which is often a significant regulatory benchmark for substantial acquisition disclosures. The sale was conducted entirely through the open market, indicating a liquidation of existing holdings rather than a transfer to related parties or a strategic block deal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.46%	+9.79%	+44.04%	+40.83%	+61.44%	+6.11%

Akhil Retail Private Limited has disposed of 3,209,424 equity shares of Mena Mani Industries through open market sales. The transactions were executed between July 9 and August 17, 2026, reducing the seller’s direct holding in the listed company.

The disposal was reported to BSE Limited on August 19, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Akhil Retail is not part of the promoter or promoter group of the target company.

Holding Changes

Prior to the sale, Akhil Retail held 8,290,222 shares, representing 7.13% of the total voting capital. Along with its Persons Acting in Concert (PAC), the group’s total holding stood at 8,341,870 shares (7.18%).

Following the open market sale, Akhil Retail’s direct holding fell to 5,080,798 shares, or 4.38% of the voting capital. The aggregate holding for the PAC group decreased to 5,132,446 shares, representing 4.42% of the total diluted share capital.

Metric:	Before Sale	After Sale	Change
Akhil Retail Shares:	8,290,222	5,080,798	(3,209,424)
Akhil Retail Stake (%):	7.13%	4.38%	(2.76%)
Total PAC Shares:	8,341,870	5,132,446	(3,209,424)
Total PAC Stake (%):	7.18%	4.42%	(2.76%)

The remaining PAC members—Mrudula Kumarpal Shah, Akhil Harshul Shah, and Harshul Kumarpal Shah—maintained their existing holdings during this period. No warrants, convertible securities, or encumbrances were involved in the transaction.

Capital Structure

The total equity share capital of Mena Mani Industries remained unchanged at ₹11,62,06,947, divided into 116,206,947 equity shares with a face value of Re. 1 each. The diluted share capital also remained constant at the same figure.