Garnet International has officially communicated to BSE Limited that it does not qualify as a Large Corporate under the Securities and Exchange Board of India (SEBI) regulatory framework. The disclosure was made through a formal letter dated April 04, 2026, addressed to the Corporate Relations and Listing Department of BSE.

Regulatory Compliance Disclosure

The company's confirmation relates to specific SEBI circulars governing fund raising activities by large entities through debt securities issuance. The disclosure references two key regulatory documents:

Exemption from Filing Requirements

Based on its non-Large Corporate status, Garnet International is exempt from filing the initial disclosure requirements specified in Annexure A of the referenced SEBI circular. This exemption applies to the financial year ended March 31, 2026, relieving the company from certain mandatory disclosure obligations that would otherwise apply to entities classified as Large Corporates under the regulatory framework.

Management Authorization

The disclosure was formally signed by Ramakant Gaggar, Managing Director of the company, bearing DIN 01019838. The communication was digitally signed and submitted to ensure proper documentation of the company's regulatory compliance status for the specified financial year.

This annual disclosure represents part of the company's ongoing commitment to maintaining transparency and compliance with SEBI regulations regarding corporate classification and associated reporting requirements.

Garnet International has reported a significant change in its shareholding structure. Mangal Savitri Investment Pvt Ltd, an entity belonging to the promoter group, has acquired a substantial stake in the company through open market transactions.

Key Details of the Acquisition

Impact on Shareholding

The acquisition has led to a notable change in the promoter group's holding in Garnet International:

Regulatory Compliance

This transaction falls under the purview of the Securities and Exchange Board of India (SEBI) Substantial Acquisition of Shares and Takeovers Regulations, 2011. As per these regulations, the company is required to disclose such changes in shareholding to the stock exchanges.

Market Implications

The increase in promoter holding could be seen as a signal by the market, potentially indicating the promoter group's confidence in the company's future prospects. However, investors should conduct their own research and analysis before making any investment decisions based on this development.

Shareholders and potential investors are advised to monitor further announcements from the company for any additional information or strategic moves related to this acquisition.