Haryana Refractories acquires 5.22% stake in Sham Foam via open market
- Haryana Refractories Pvt Ltd and Manoj Agarwal acquired a combined 5.22% stake in Sham Foam Ltd
- The group purchased 6,00,000 equity shares via open market transactions on August 24, 2026
- Manoj Agarwal holds 3.05% while Haryana Refractories holds 2.17% post-acquisition
- The acquirers had no prior holding in the company before this transaction
*this image is generated using AI for illustrative purposes only.
Sham Foam Limited disclosed an acquisition of 5.22% of its total voting capital by Haryana Refractories Private Limited and its associate, Manoj Agarwal, on August 24, 2026.
The acquisition was executed through open market transactions under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Acquisition Details
Haryana Refractories Private Limited and Manoj Agarwal, acting as Persons Acting in Concert (PAC), acquired a total of 6,00,000 equity shares. This transaction represents 5.22% of the company’s total share and voting capital.
Prior to this acquisition, the acquirer group held nil shares in the target company. The shares were acquired in the open market, with no encumbrances, pledges, or convertible securities involved in the transaction.
Shareholding Breakdown
The total acquisition was split between the corporate entity and the individual promoter:
| Acquirer | Shares Acquired | Post-Acquisition Holding | Stake Percentage |
|---|---|---|---|
| Manoj Agarwal | 3,50,000 | 3,50,000 | 3.05% |
| Haryana Refractories Pvt Ltd | 2,50,000 | 2,50,000 | 2.17% |
| Total | 6,00,000 | 6,00,000 | 5.22% |
Sham Foam’s total equity share capital remained unchanged at 1,14,90,750 equity shares following the transaction. The acquirer group does not belong to the promoter or promoter group of the target company.
Historical Stock Returns for Sham Foam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.39% | -18.63% | 0.0% | 0.0% | 0.0% | 0.0% |
What is the strategic rationale behind Haryana Refractories and Manoj Agarwal entering the foam manufacturing sector with a 5.22% stake?
Will this initial acquisition trigger further open market purchases, potentially pushing the PAC group closer to the 5% disclosure thresholds or a tender offer requirement?
How might this new institutional interest influence Sham Foam's stock price volatility and trading volume in the near term?
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