Mazda Ltd saw a significant reduction in institutional holding as Croll Reynolds International Inc. disposed of 5,90,503 equity shares, representing 2.95% of the company’s equity share capital.

The sale was executed through open market transactions across three trading days in September 2026. The cumulative volume of these trades triggered a mandatory disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as the total disposal exceeded the prescribed 2% threshold.

Transaction timeline and volumes

Croll Reynolds International Inc., which does not belong to the promoter or promoter group, executed the sell-off in three distinct tranches. The largest single-day sale occurred on September 22, 2026, accounting for nearly half of the total disposed volume.

Post-disposal holding structure

Prior to this series of transactions, Croll Reynolds International Inc. held 14,47,500 shares, constituting 7.23% of Mazda’s total voting capital. Following the disposal, the entity’s residual stake stands at 8,56,997 shares, or 4.28% of the equity share capital.

The company’s total equity share capital remains unchanged at ₹4,00,50,000, divided into 2,00,25,000 equity shares with a face value of ₹2 each. There were no encumbrances, warrants, or convertible securities held by the seller before or after the transaction.

What the numbers show

The data reveals a concentrated exit strategy over a five-day window. The seller reduced its position by 41.1% of its original holding in just three trading sessions. Notably, the final tranche on September 22 was the largest by volume (2,42,927 shares), suggesting an acceleration of selling pressure as the threshold breach approached. The absence of any remaining encumbrances or convertible instruments indicates that the seller now holds a clean, unencumbered minority stake in the company.

Mazda Limited concluded its 36th Annual General Meeting on September 21, 2026. The meeting was held via video conferencing with the deemed venue at the corporate office in Ahmedabad.

Shareholders approved ordinary resolutions to adopt the financial statements for the year ended March 31, 2026, and declare a final dividend of ₹4.00 per equity share of face value ₹2 each.

Key Resolutions

The board placed six items before shareholders for voting. All resolutions were passed via remote e-voting and e-voting during the meeting.

Governance Updates

Mr. Samuel Croll - III and Mr. Mohib Khericha retired by rotation and offered themselves for re-appointment. Both were re-elected by shareholders.

A special resolution approved the continuation of Mr. Mohib Khericha’s directorship after he attains the age of 75 years during his tenure. This requires shareholder consent under the Companies Act, 2013.

The company also ratified the remuneration payable to the Cost Auditor for the financial year 2026-27.

Meeting Proceedings

Sixty-four shareholders attended the meeting through video conferencing. Mr. Nishith Kayasth, Company Secretary, confirmed the presence of the requisite quorum.

Mr. Percy Avari, Whole-Time Director, and Mrs. Shanaya Mody Khatua, Whole-Time Director, addressed shareholders and responded to queries from pre-registered speakers.

Remote e-voting commenced on September 18, 2026, at 9:00 am and concluded on September 20, 2026, at 5:00 pm. CS Rutul Shukla served as the scrutinizer for the voting process. Results will be declared within two working days of the meeting conclusion.