Mandora Finserve Private Limited, a promoter group entity of ECS Biztech Limited, sold its entire holding of 11,43,410 equity shares representing 5.56% of the company's share capital. The transaction was executed on October 8, 2026, transferring ownership to Komal Infotech Private Limited.

The sale was conducted through an off-market transaction pursuant to a Share Purchase Agreement dated July 29, 2026. Following this disposal, Mandora Finserve’s holding in ECS Biztech stands at zero shares and 0.00% of the voting capital.

Transaction details

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The target company, ECS Biztech Limited, is listed on the Bombay Stock Exchange with a total equity share capital of ₹20,55,50,470 (2,05,55,047 equity shares of ₹10 each).

Promoter group holdings

The transaction involved only Mandora Finserve Private Limited within the promoter group. Other entities associated with the promoter group, including Vijay Mansinhbhai Mandora, Seema Vijay Mandora, Achal Vijaysinh Mandora, and Laurels Management Private Limited, held zero shares both before and after this specific transaction.

What the numbers show

The complete exit of Mandora Finserve from the promoter group structure indicates a consolidation or strategic realignment of promoter interests. Since the other named promoter group entities held no shares prior to this transaction, the entire 5.56% block held by the group was concentrated in Mandora Finserve. The transfer to Komal Infotech Private Limited shifts this significant minority stake out of the direct promoter group control, potentially altering the concentration of voting power among non-promoter shareholders.

ECS Biztech Limited appointed Vijay Mandora as its Managing Director, effective September 5, 2026. The appointment was approved by shareholders at the Annual General Meeting held on September 30, 2026.

Mandora is a promoter and the founder of the company. He has over 35 years of experience in the field and holds an Engineering degree in Information Technology & Telecommunication. His tenure as Managing Director is set for a period of one year.

Appointment details

The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure highlights that Mandora does not hold directorship in any other listed company, nor did he hold such positions in listed entities during the past three years.

Governance and compliance

The intimation was filed with BSE Limited on October 1, 2026. The disclosure confirms that there are no relationships between directors relevant to this appointment. The company’s registered office is located in Ahmedabad, Gujarat.