Ester Industries Completes Promoter Group Share Transfer with Regulatory Filings

Ester Industries has completed a significant promoter group share transfer involving 756285 equity shares, with comprehensive regulatory disclosures filed under SEBI regulations. The transaction involved Ayush Vardhan Singhania acquiring shares from Arvind Singhania through an inter-se transfer by way of gift, executed on March 24, 2026.

Transaction Overview

The share transfer was completed as an off-market inter-se transfer under Regulation 10(1)(a)(i) and (ii) of SEBI Takeover Regulations. Arvind Singhania filed official disclosures under Regulation 29(2) of SEBI Takeover Regulations on March 26, 2026, with both BSE Limited and National Stock Exchange of India Limited. The regulatory filing confirmed the transfer of 756285 equity shares carrying 0.77% voting rights to Ayush Vardhan Singhania, who belongs to the promoter group of the company.

Transaction Parameter:	Details
Acquirer:	Ayush Vardhan Singhania
Seller:	Arvind Singhania
Shares Transferred:	756285
Voting Rights:	0.77%
Transaction Date:	March 24, 2026
Mode:	Off-market Inter-se Transfer (Gift)
Filing Date:	March 26, 2026

Shareholding Pattern Changes

The transaction resulted in complete divestment by Arvind Singhania and significant increase in Ayush Vardhan Singhania's stake. The detailed shareholding changes show the redistribution of ownership within the promoter group, with the acquired shares representing 0.72% of the diluted share capital.

Shareholder:	Pre-Transaction Shares	Pre-Transaction %	Post-Transaction Shares	Post-Transaction %
Ayush Vardhan Singhania:	178033	0.18%	934318	0.95%
Arvind Singhania:	756285	0.77%	0	0.00%

Promoter Group Holdings

The disclosure revealed the complete promoter group shareholding structure, with other entities maintaining their positions unchanged. The total promoter group holding remains stable at 62.71% with no change in the overall ownership pattern after the inter-se transfer.

Entity:	Shareholding	Voting Rights %
Wilemina Finance Corporation:	49318012	50.54%
MOVI Limited:	7704645	7.90%
MODI Rubber Limited:	2629019	2.69%
Fenton Investments Private Limited:	490000	0.50%
Jai Vardhan Singhania:	124858	0.13%
Uma Devi Singhania:	175	0.00%

Company Capital Structure

The regulatory filing provided detailed information about Ester Industries' capital structure. The company's equity share capital comprises 97586191 equity shares of Rs. 5 each, aggregating to Rs. 48,79,30,955. The total diluted share capital stands at 105117830 equity shares of Rs. 5 each, aggregating to Rs. 52,55,89,150. The shares are listed on both BSE Limited and National Stock Exchange of India Limited, ensuring complete transparency in the share transfer process. The acquisition was exempt from open offer requirements under Regulation 10(1)(a)(i) and (ii), as it involved an inter-se transfer within the promoter group by way of gift.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.05%	-19.49%	-30.24%	-32.98%	-40.27%	-37.69%

Ester Industries Limited announced major leadership restructuring following its Board of Directors meeting held on March 26, 2026. The Board approved significant changes in the company's top management structure, including the re-designation of its Managing Director and appointment of a new Chief Executive Officer.

Board Meeting Outcomes

The Board meeting, which commenced at 12:20 P.M. and concluded at 12:35 P.M., resulted in key decisions that will reshape the company's executive leadership:

Decision:	Details
Re-designation:	Mr. Arvind Singhania (DIN: 00934017) from Managing Director to Non-Executive Non-Independent Director and Chairman
Effective Date:	Closing of business hours on March 26, 2026
Approval Required:	Subject to Members' approval
New CEO:	Mr. Vaibhav Jha
CEO Start Date:	March 27, 2026
Postal Ballot:	Notice issued seeking member approval

Leadership Profiles

Mr. Arvind Singhania is a co-founder of Ester and has been actively associated with the company since its inception in 1985. His vision and passion have been integral to Ester's success, taking the company from a small startup to a diversified and globally recognized organization. Innovation and development are at the core of his philosophy, driving Ester's transformation from commodity to technology play. He brings more than 40 years of rich and varied experience including production, supply chain, finance, and business development. Mr. Singhania is the father of Mr. Ayush Vardhan Singhania, Whole Time Director of the Company.

Mr. Vaibhav Jha has completed his MBA from IIT Bombay and B.E. from Nagpur University. He brings more than 21 years of rich experience and proven track record of managing multicultural joint ventures with extensive experience across multiple functions, industries, and global geographies. Prior to joining Ester, he was associated with reputed organizations like Infosys Technologies, GEP Worldwide and Reliance Industries Limited. Mr. Jha is not related to any director of the company.

Updated Key Managerial Personnel

Following the leadership changes, the company has updated its list of Key Managerial Personnel authorized by the Board for determining materiality of events and making necessary disclosures to stock exchanges:

Sr. No.	Name	Designation
1	Mr. Vaibhav Jha	Chief Executive Officer
2	Mr. Ayush Vardhan Singhania	Whole Time Director
3	Mr. Pradeep Kumar Rustagi	Executive Director-Corporate Affairs
4	Mr. Sourabh Agarwal	Chief Financial Officer
5	Ms. Poornima Gupta	Company Secretary & Compliance Officer

Regulatory Compliance

The company has issued a notice of postal ballot seeking approval from members for the proposed changes. All disclosures have been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Mr. Arvind Singhania is not debarred from holding the office of Director pursuant to SEBI Order or any such authority order.