Gujjubhai Industries Limited accepted the resignation of Mr. Bhavin Mehta from the post of director, effective July 29, 2026. The board approved the change during its meeting held on that date.

The company filed an updated disclosure with BSE Limited on September 11, 2026, to address a regulatory query regarding the omission of the resignation letter in its initial announcement.

Resignation Details

Mr. Mehta resigned due to pre-occupation. In his resignation letter dated July 29, 2026, he confirmed there were no other reasons for stepping down from the board.

Regulatory Compliance

The exchange had observed that the original corporate announcement on July 29, 2026, did not enclose the resignation letter or explain the delay in submission. Gujjubhai Industries attributed this to a clerical oversight during the finalization of the disclosure on the BSE Listing Centre.

The company stated the omission was inadvertent and not a wilful default or suppression of material information. The updated filing includes the requisite details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Gujjubhai Industries promoter group has acquired an additional 1,96,701 equity shares through a proposed preferential allotment. The transaction increases the promoters' total holding to 36.50% of the company's paid-up capital.

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition involves Shaili Vijaybhai Patel and Vishal Vipinkumar Bhatt acting in concert.

Transaction Details

The preferential allotment adds 0.94% to the promoters' stake relative to the pre-acquisition share capital. Post-acquisition, the holding represents 0.89% of the total diluted share capital.

The date of receipt of intimation for the allotment is September 7, 2026.

Capital Structure Impact

The company's equity share capital increased from ₹20,92,08,360 (2,09,20,836 shares) to ₹22,12,57,510 (2,21,25,751 shares) following the transaction. Each equity share has a face value of ₹10.

What the Numbers Show

The post-acquisition stake of 36.50% is lower than the pre-acquisition stake of 37.66%, despite the addition of new shares. This divergence results from the dilution effect on the existing share base due to the increase in total outstanding shares from 2,09,20,836 to 2,21,25,751.