Madhav Infra Projects Limited has scheduled its 33rd Annual General Meeting (AGM) for September 30, 2026. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means, in compliance with Ministry of Corporate Affairs and SEBI regulations.

Meeting Details

The AGM is set to begin at 12:30 pm on Wednesday, September 30, 2026. The company will transact the businesses mentioned in the notice of the AGM without the physical presence of members at a common venue.

E-Voting and Record Date

Shareholders holding shares as of the cut-off date of September 23, 2026, are eligible to vote. The remote e-voting period commences on Sunday, September 27, 2026, at 9:00 am and ends on Tuesday, September 29, 2026, at 5:00 pm. Votes cast electronically cannot be changed subsequently.

Book Closure

The register of members and share transfer books will remain closed from Thursday, September 24, 2026, to Wednesday, September 30, 2026, both days inclusive, for the purpose of the AGM.

Additional Information

Newspaper advertisements regarding the notice were published in Free Press (Gujarat Edition) and Lokmitra (Gujarat Edition). The annual report and AGM notice are available on the company’s website.

Madhav Infra Projects Limited has notified stock exchanges of a proposed inter-se transfer of 7,57,16,940 equity shares within its promoter group, executed via gift deed. The restructuring involves Mr. Ashok Madhavdas Khurana transferring his entire direct holding to Mr. Amit Ashok Khurana, Mrs. Neelakshi Amit Khurana, and Armaan Amit Trust. Scheduled for execution on or after August 12, 2026, the transaction consolidates voting power among specific promoter entities while leaving the total aggregate shareholding of the promoters unchanged, ensuring stability in the company’s control structure.

The filing was submitted under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition qualifies for an exemption from making an open offer under Regulation 10(1)(a)(ii), as all parties are qualifying persons named as promoters in the shareholding pattern for not less than three years prior to the proposed acquisition. The transfer involves no consideration, as it is an internal realignment of assets within the promoter family.

Transaction Details

The core details of the proposed acquisition are outlined below:

Impact on Shareholding Pattern

While the individual holdings of the involved parties will shift significantly, the consolidated position of the promoter group remains static. Prior to this transaction, Mr. Ashok Madhavdas Khurana held 7,57,16,940 shares, constituting 28.087% of the total share capital. Following the gift deed execution, his direct holding will reduce to zero.

Conversely, the acquiring entities will see substantial increases in their direct stakes. Mr. Amit Ashok Khurana will acquire 86,88,614 shares (3.223%), increasing his holding from 47,91,240 shares (1.777%) to 1,34,79,854 shares (5.00%). Mrs. Neelakshi Amit Khurana will receive 54,34,764 shares (2.016%), raising her stake from 80,43,120 shares (2.984%) to 1,34,77,884 shares (5.00%). Armaan Amit Trust will acquire the largest portion, 6,15,93,562 shares (22.848%), increasing its holding from 8,13,60,000 shares (30.180%) to 14,29,53,562 shares (53.03%).

What the Numbers Show

The structural nature of this transaction highlights a consolidation of voting power within specific promoter entities without diluting the group's overall influence. By utilizing a gift deed, the transfer avoids market price discovery mechanisms, which is standard for intra-family or intra-promoter group restructuring. The exemption under Regulation 10(1)(a)(ii) confirms that the regulatory framework views this as a non-market-driven adjustment that does not alter the effective control dynamics of Madhav Infra Projects Limited . Investors should note that while the individual promoter stakes change, the total promoter holding percentage remains constant, implying no immediate change in corporate governance control or external threat of takeover.