The promoter group of Glen Industries increased its stake in the company to 74.30% following open market acquisitions by Lalit Agrawal (HUF) on August 26 and 27, 2026.

Lalit Agrawal (HUF), part of the promoter group, purchased a total of 16,800 equity shares from public shareholders. The transactions were executed at prevailing market prices ranging between ₹120.60 and ₹124.54 per share.

Acquisition Details

The recent acquisitions were split across two days:

Consequent to these purchases, the aggregate shareholding of the promoter and promoter group rose from 74.23% to 74.30% of the total paid-up equity share capital.

Previous Transactions

Earlier in August, the promoter group had also acquired shares on August 20 and 21, 2026:

Regulatory Compliance

The company confirmed that these acquisitions comply with the minimum public shareholding requirements prescribed under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Glen Industries shareholders approved the company’s audited financial statements for the fiscal year ended March 31, 2026, alongside revised remuneration structures for key management personnel during its 19th Annual General Meeting on August 20, 2026. A significant governance update was the appointment of M/s Tosniwal & Associates as Joint Statutory Auditor for a five-year term commencing from FY27.

The meeting, held via video conferencing from 12:00 pm to 12:28 pm, saw all ordinary and special business resolutions pass with the requisite majority. Chairman Lalit Agrawal presided over the proceedings, which included the ratification of statutory auditor appointments and the reappointment of a retiring director.

Auditor Appointment Details

Shareholders appointed M/s Tosniwal & Associates, Chartered Accountants (Firm Registration No. 327249E), as Joint Statutory Auditor. The firm will serve for a term of five consecutive years from the conclusion of the 19th AGM until the conclusion of the 24th AGM in 2031. This appointment covers the audit period from FY2026-27 till FY2030-31.

The firm is registered with the Institute of Chartered Accountants of India and provides services in statutory audit, internal audit, taxation, GST, regulatory compliance, corporate advisory, and valuation.

Key Resolutions Passed

Shareholders voted in favor of several critical corporate governance and compensation measures. The board had proposed revisions to the remuneration of three whole-time directors and the managing director. Additionally, members approved the appointment of M/s Tosniwal & Associates to fill a casual vacancy and for the subsequent five-year term.

Ordinary Business

• Adoption of audited standalone and consolidated financial statements for FY26, along with reports from the Board of Directors and Auditors.
• Reappointment of Nikhil Agrawal as a Director, who was retiring by rotation.
• Ratification of the appointment of M/s Tosniwal & Associates, Chartered Accountants, as Statutory Auditors to fill a casual vacancy.
• Appointment of M/s Tosniwal & Associates as statutory auditors for a term of five consecutive years.

Special Business

• Approval of revised remuneration for Lalit Agrawal, Whole-Time Director.
• Approval of remuneration payable to Nikhil Agrawal, Managing Director.
• Approval of revised remuneration for Niyati Seksaria, Whole-Time Director.

Voting Process

The company facilitated remote e-voting from 9:00 am on August 17, 2026, to 5:00 pm on August 19, 2026. Members participating in the virtual meeting could also vote electronically if they had not cast their votes remotely. Mr. Anil Kumar Dubey of M/s M & A Associates served as the scrutinizer for the electronic voting process.

All resolutions outlined in the notice dated July 27, 2026, were passed. The detailed voting results will be communicated to stock exchanges and uploaded to the company’s website separately.