Malaxmi Climate Resilience Platform Private Limited has proposed an off-market acquisition of a 52.56% stake in Chiraharit from promoter Mrs. Tejaswini Yarlagadda. The deal values the shares at ₹8 per equity share, totaling approximately ₹2.3 crore for the transfer of 2,87,99,990 shares.

The transaction is structured for corporate consolidation. Mrs. Yarlagadda holds 90% of the equity share capital in the acquirer, Malaxmi Climate Resilience Platform. The filing states the transfer aims to consolidate promoter shareholding under a single corporate entity for ease of structuring and long-term holding.

Transaction Details

The proposed acquisition falls under the exemption provided by Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This exemption applies because the transferor and transferee are members of the same promoter group.

Market Price Comparison

Chiraharit’s equity shares are frequently traded on BSE Limited. The volume-weighted average market price (VWAP) over the 60 trading days preceding the intimation date was ₹8.65 per share. The proposed acquisition price of ₹8 represents a discount to this VWAP.

The acquirer declared that the acquisition price is not higher than 25% of the computed VWAP price, complying with regulatory requirements. Both parties confirmed compliance with disclosure mandates under Chapter V of the SEBI SAST Regulations for the three years prior to the proposed acquisition.

What the Numbers Show

The transfer results in a complete shift of the 52.56% stake from individual promoter holding to a corporate vehicle. Mrs. Yarlagadda will hold no direct shares in Chiraharit post-transaction, while Malaxmi Climate Resilience Platform will emerge as the majority shareholder with a 52.56% stake. This restructuring centralizes control within a corporate entity where the promoter retains significant indirect influence through her 90% ownership.

Chiraharit Limited will convene its 20th Annual General Meeting (AGM) on September 24, 2026. The company’s Board of Directors approved the date during a meeting held on August 24, 2026.

The Board also approved the Notice of the AGM, the Directors’ Report, and the Management Discussion and Analysis Report for the financial year 2025-26. These documents form part of the Annual Report and will be circulated to members in due course.

Governance Updates

The company appointed Mrs. Rashida Hatim Adenwala as the scrutinizer for the upcoming AGM. She is a practicing Company Secretary and Founder Partner at R & A Associates in Hyderabad. Her role is to ensure the voting process remains fair and transparent.

The Board meeting commenced at 3:00 pm and concluded at 4:00 pm on August 24, 2026. Pavan Kumar Bang, Managing Director & CEO, signed the disclosure pursuant to Regulation 30 of the SEBI Listing Regulations.