Millworks Technologies Limited received disclosure regarding a reduction in shareholding by LRSD Capital Private Limited. The entity sold 20,000 equity shares, representing 0.11% of the company's total share capital, through open market transactions on October 14, 2026.

This disposal was executed by LRSD Capital Private Limited (formerly known as LRSD Securities Private Limited) along with Persons Acting in Concert (PAC). Following the sale, the aggregate holding of the seller and PACs decreased from 6,05,200 equity shares (3.44%) to 5,85,200 equity shares (3.32%).

Regulatory Disclosure Details

The transaction was reported under Regulation 29(1) and 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the seller does not belong to the promoter or promoter group. The shares were sold via the open market mechanism.

Stakeholder Structure and History

The Persons Acting in Concert included Rajasthan Global Securities Private Limited and RGSL Investment LVF 1 Scheme. The disclosure notes that while RGSL Investment LVF 1 is a distinct legal entity with an independent fund manager, it is treated as a PAC due to its corpus being predominantly contributed by Rajasthan Global Securities Private Limited and LRSD Capital Private Limited.

A significant shift in holding occurred since the previous disclosure on July 17, 2026. At that time, the aggregate holding of Rajasthan Global Securities Private Limited and its PACs stood at 9,50,800 equity shares, representing approximately 5.40% of the total share capital. The current reduction to 3.32% indicates a substantial decrease in aggregate exposure over the intervening period.

What the Numbers Show

The data reveals a consistent trend of divestment by the associated entities. While the immediate transaction reduced holdings by only 0.11%, the broader context shows a decline from 5.40% to 3.32% since July 2026. This suggests that the entities involved have been systematically reducing their position in Millworks Technologies Limited over the last three months, moving well below the 5% threshold that typically triggers more frequent regulatory disclosures for substantial acquisitions.

Millworks Technologies Limited appointed Sudhir Bellare Rai as Vice President for Sheet Metal Fabrication and designated him as Senior Management Personnel. The company also appointed M/s. S. Janardhan & Associates, Chartered Accountants, as its internal auditor for the financial year 2026-27.

The appointments were approved by the Board of Directors during a meeting held on October 20, 2026. The session commenced at 11:30 am and concluded at 12:30 pm in Bengaluru. These actions were taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership and audit updates

Sudhir Bellare Rai brings nearly 30 years of experience in fabrication, precision machining, and manufacturing operations. As Proprietor and Operations Head of Raitech, he managed a manufacturing facility with an annual turnover exceeding ₹6 crore and a workforce of approximately 60 personnel. His expertise spans production, procurement, quality management, and cost optimization, serving Tier-1 OEMs across earthmoving, rail, and hydro-engineering sectors.

M/s. S. Janardhan & Associates was established in 1991 under Sri S. Janardhan, a Chartered Accountant with professional experience since 1969. The firm provides statutory and internal audits, taxation, and related professional services to clients in textiles, aviation, manufacturing, hospitality, software, real estate, and construction.

Key appointment details

The disclosure notes that there are no relationships between directors relevant to these appointments. The company filed the outcome of the board meeting with the Bombay Stock Exchange on the same day.