Indong Tea Company Limited has announced that promoter Hariram Garg sold 16,000 equity shares through an open market transaction on March 20, 2026. The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The sale involved 16,000 equity shares, representing 0.08% of the company's total share capital. The transaction was executed through open market operations, with the disclosure filed on March 24, 2026.

Shareholding Changes

The transaction resulted in a reduction of Hariram Garg's stake in Indong Tea Company Limited. His shareholding position changed as follows:

Regulatory Compliance

The disclosure was filed by Company Secretary & Compliance Officer Akash Poddar (Membership No.: A78727) on behalf of Indong Tea Company Limited. The company is listed on BSE Limited with scrip code 543769.

Promoter Information

Hariram Garg, the selling promoter, is based at 2, Deodar Street, Near St. Lawrence High School, Ballygunge Circular Road, Ballygunge, Kolkata – 700 019. The promoter filed the disclosure directly with BSE Limited and provided a copy to the company's compliance officer.

The promoter's sale represents a minor reduction in his overall stake while maintaining his position as a significant shareholder in the tea company. All regulatory requirements under SEBI regulations have been fulfilled with the timely disclosure to BSE Limited.

Indong Tea Company Limited has informed BSE about an inter-se transfer of equity shares between its promoter group entities, executed as part of a court-approved merger scheme. The company received intimation on 16th February, 2026, regarding the transfer of 3,07,895 equity shares representing 1.585% of the total issued and paid-up share capital.

Transfer Details and Background

The share transfer was executed on 10th February, 2026, through off-market transfer (DIS) mechanism. This transaction stems from the Scheme of Amalgamation sanctioned by the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, through an order dated 19th June, 2025. Under this scheme, Greenex Chemicals Private Limited (transferor company) merged with IBM Finance and Investment Private Limited (transferee company), both being members of Indong Tea Company's promoter group.

Shareholding Changes

The merger resulted in significant changes to the promoter group shareholding pattern:

Following the amalgamation, the entire shareholding of Greenex Chemicals Private Limited in Indong Tea Company has been transferred to IBM Finance and Investment Private Limited. This has resulted in IBM Finance and Investment Private Limited's stake increasing by 1.586 percentage points to 8.407%.

Regulatory Compliance

Both promoter group entities have submitted the required disclosures in Form C as mandated under Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The disclosures were submitted to the company on 16th February, 2026, and subsequently forwarded to BSE for record.

Corporate Structure Impact

The merger consolidates the promoter group's shareholding under IBM Finance and Investment Private Limited, streamlining the corporate structure. Greenex Chemicals Private Limited, which held 3,07,895 shares representing 1.585% stake, no longer holds any shares in Indong Tea Company following the completion of the amalgamation process.

The transaction was executed through the Depository Participant (DIS) system as an off-market transfer, ensuring compliance with regulatory requirements. Both entities are registered at the same address - Sikkim Commerce House, 4/1, Middleton Street, Kolkata, indicating their common management structure within the promoter group.