Indo Thai Securities Limited saw its promoter group holding increase to 21.24% of total share/voting capital following a minor open market acquisition. The combined stake of Dhanpal Doshi and Varsha Doshi rose from 21.18% prior to the transaction.

The disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, was filed on September 30, 2026. The acquisition took place on September 29, 2026, involving a total of 80,000 equity shares.

Acquisition details

Dhanpal Doshi, the promoter, acquired 60,000 shares, increasing his personal holding to 12,765,000 shares or 9.85% of the voting capital. Varsha Doshi, part of the promoter group, acquired 20,000 shares, bringing her holding to 14,765,500 shares or 11.39%.

The mode of acquisition for both parties was the open market. No encumbrances, warrants, or convertible securities were involved in this transaction.

Capital structure context

The company's equity share capital remained unchanged at ₹12,96,18,190/-, divided into 12,96,18,190 equity shares of ₹1 each. The total diluted share/voting capital stands at ₹13,34,43,190/-, divided into 13,34,43,190 equity shares of ₹1 each.

What the numbers show

The incremental purchase of 80,000 shares represents a marginal 0.06% increase in the promoter group's aggregate stake. This small addition raises the combined holding from 21.18% to 21.24%, maintaining a stable control position without significant dilution impact on other shareholders given the static total share capital.

Indo Thai Securities shareholders approved all ten resolutions proposed at its 32nd Annual General Meeting held on September 19, 2026. The meeting was conducted through video conferencing and other audio-visual means.

The company reported a total of 78,296,891 shares voted on the resolutions. All votes were cast via remote e-voting, with no poll votes recorded during the meeting itself. The scrutinizer report confirmed that all agenda items passed with the requisite majority.

Key Resolutions Passed

The AGM addressed several critical governance and administrative matters:

• Adoption of financial statements
• Declaration of dividend
• Appointment of Mr. Rajendra Bandi as director liable to retire by rotation
• Appointment of Vinod Singhal and Co. LLP as statutory auditor
• Reappointment of Mr. Dhanpal Doshi as managing director
• Reappointment of Mr. Parasmal Doshi as whole-time director
• Reappointment of Mr. Rajendra Bandi as whole-time director
• Approval for increase in remuneration of CEO Mr. Sarthak Doshi
• Approval for increase in remuneration of CFO and COO Mr. Nishit Doshi
• Amendment to the main object clause of the Memorandum of Association

Voting Breakdown

The promoter group held 72,678,970 shares, representing the vast majority of the voting power. Public institutional investors held 74,297 shares, while public non-institutional shareholders held 5,543,624 shares.

All resolutions received overwhelming support from the promoter group, with 100% of their votes cast in favor. Among public non-institutional shareholders, dissenting votes were minimal, ranging from 11 to 1,140 shares against specific resolutions, primarily related to auditor appointment and director remuneration increases.

The scrutinizer for the meeting was Kaushal Ameta & Co., appointed by the board on July 20, 2026. The e-voting platform was managed by Central Depository Services (India) Limited (CDSL).