Atharv Enterprises Ltd saw a complete exit by non-promoter shareholder Bhumi Gadia, who disposed of her entire 4.43% equity stake through open market sales.

The disclosure, filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, indicates that Gadia held 753,572 shares prior to the transaction. Following the sale of these shares between August 1, 2026, and September 27, 2026, her holding dropped to 0 shares.

Transaction details

The sale was executed entirely through the open market on the BSE Limited. The table below outlines the change in shareholding structure as reported in the regulatory filing.

The company's total equity share capital remained unchanged at 170,000,000 shares both before and after the transaction, confirming that the disposal involved existing shares rather than new issuance or buyback mechanisms.

Regulatory context

Bhumi Gadia was not part of the promoter or promoter group of Atharv Enterprises. The disclosure specifies that the mode of acquisition for the initial holding and subsequent disposal was the open market. The filing date for this specific disclosure is October 7, 2026.

Atharv Enterprises Limited shareholders approved all eight resolutions proposed at the company's 36th Annual General Meeting held on September 29, 2026. The voting results, submitted to BSE on September 30, 2026, confirm the reappointment of Pramod Kumar Gadiya as Managing Director for a five-year term and increases in managerial remuneration.

The meeting, conducted via video conferencing and other audio-visual means, also saw the adoption of the audited financial statements for the fiscal year ended March 31, 2026. The board recommended several special resolutions concerning managerial remuneration and related party transactions, all of which were passed by the members with significant margins.

Key resolutions passed

The following agenda items were considered and approved by the shareholders at the meeting:

Voting details and participation

Remote e-voting was facilitated through the NSDL platform from September 25 to September 28, 2026. E-voting during the live session remained open for 15 minutes following the conclusion of proceedings. The scrutinizer, Nidhi Bajaj of M/s. Nidhi Bajaj & Associates, oversaw the voting process and issued the report on September 30, 2026.

A total of 32 members attended the virtual meeting via video conferencing. No promoters or promoter group members attended in person or through proxy, though they participated via remote e-voting. The total number of shareholders on the record date (September 22, 2026) was 8,890.

For the ordinary resolutions (Adoption of Financials, Director Reappointment, Auditor Reappointment), the total votes polled were 5,176,365 shares, representing 30.45% of outstanding shares. For the special resolutions (MD Reappointment, Remuneration Hikes, Related Party Transactions), the total votes polled were 1,922,902 shares, representing 11.31% of outstanding shares. In all cases, the votes in favour exceeded 98%, ensuring passage with the requisite majority.