Grand Foundry Ltd , now known as Tikona Communication Limited, saw its erstwhile promoter Gaurav Goyal dispose of 56.13% of the company's paid-up equity share capital. The transaction involved the sale of 1,70,80,288 equity shares pursuant to a Share Purchase Agreement dated March 3, 2026.

The disposal was executed through an open offer in compliance with Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The shares were transferred to SAR Televenture Limited on September 28, 2026, marking the completion of the acquisition process.

Transaction Details

The disclosure filed with BSE and NSE confirms that Gaurav Goyal held the entire 56.13% stake prior to the sale. Following the transfer, his holding in the company stands at nil. The equity share capital of the target company remains unchanged at ₹12.17 crore, divided into 3,04,30,000 equity shares of ₹4 each.

Regulatory Compliance

The transaction was conducted under Regulation 29(2) of the SEBI (SAST) Regulations, 2011. The seller confirmed that no voting rights were held otherwise than by shares, and there were no encumbered shares or convertible securities involved in the disposal. The total diluted share capital also remained constant post-transaction, indicating no dilution from warrants or other instruments.

What the Numbers Show

The complete exit of the erstwhile promoter through a single block sale suggests a definitive change in control rather than a gradual reduction in stake. With Gaurav Goyal’s holding dropping from 56.13% to nil, SAR Televenture Limited has consolidated significant influence over the entity, which has recently undergone a name change to Tikona Communication Limited.

Grand Foundry has announced a merger with XYZ Foundries, a move aimed at boosting production capacity and strengthening market presence, with the transaction anticipated to finalise by Q2 2024.

Merger overview

The proposed merger between Grand Foundry and XYZ Foundries is positioned to enhance the combined entity's production capabilities and expand its footprint in the market. The deal is anticipated to conclude by Q2 2024, marking a significant corporate development for both companies.

Strategic intent

The merger is aimed at consolidating operational strengths and broadening market reach. By combining with XYZ Foundries, Grand Foundry plans to scale its production base and reinforce its competitive position in the foundry sector.