Indong Tea Company disclosed that promoter Hariram Garg purchased 16,000 equity shares through on-market transactions between August 24, 2026 and August 29, 2026. The acquisition was made under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Garg held 26,50,661 equity shares prior to the transaction, representing 13.65% of the company's paid-up equity share capital. The purchase increased his holding to 26,66,661 shares, raising his stake to 13.73%. The total value of the acquisition was ₹1,31,735.

Transaction Details

The company notified the BSE Limited on August 31, 2026 regarding the change in promoter holding. The disclosure confirms the mode of acquisition as on-market purchases. The filing also references compliance with Regulation 29(2) & 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

What the Numbers Show

The acquisition represents a modest increase in promoter confidence, with the stake rising by 0.08 percentage points. The low absolute value of the transaction relative to the share count suggests the trades occurred at lower price levels or were spread across multiple small executions during the five-day window.

Indong Tea Company has appointed Rajesh Garg as its managing director for a five-year term starting September 28, 2026. The board also approved Hariram Garg’s voluntary stepping down from the role due to health issues, with Garg continuing as chairman and executive director.

The appointments were approved at a board meeting held on August 28, 2026. The changes are subject to shareholder approval and the recommendation of the Nomination and Remuneration Committee.

Leadership Changes

Hariram Garg will step down as managing director on September 28, 2026, citing health-related issues. He confirmed there are no other material reasons for the change. From October 1, 2026, he will serve as chairman and executive director.

Rajesh Garg, currently a non-executive non-independent director, will take over as managing director. His term runs until September 27, 2031. The company stated that Garg is not debarred from holding office under any SEBI order.

Independent Director Re-appointment

The board also approved the re-appointment of Akhil Kumar Manglik as a non-executive independent director. His new five-year term begins on February 4, 2027, following the completion of his first term on February 3, 2027.

Board Composition Details

Hariram Garg is the father of Rajesh Garg and father-in-law of Smt. Rama Garg, a non-executive women director. Rajesh Garg is the uncle of Madanlal Garg, another non-executive director.