Mangalam Global Enterprise Limited Director Varsha Biswajit Adhikari acquired 10,000 equity shares of the company through an open market purchase on September 23, 2026. This transaction increased her personal stake in the company.

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Adhikari did not belong to the promoter or promoter group at the time of the acquisition. The shares purchased carried voting rights and were not encumbered by any pledge or lien.

Pre and post transaction holdings

Before this acquisition, Adhikari held 10,000 equity shares, representing 0.003% of the total shareholding. Following the purchase of another 10,000 shares, her aggregate holding doubled to 20,000 equity shares. This corresponds to 0.006% of the total shareholding after the transaction.

Capital structure details

The company's equity share capital remained unchanged during this period. The total voting capital stood at 32,95,55,600 equity shares of ₹1 each, aggregating to ₹32,95,55,600 both before and after the said acquisition. The diluted share capital figures also remained constant at the same level.

What the numbers show

The director’s holding increased from 0.003% to 0.006%, reflecting a doubling of her individual stake. Despite this relative increase, the absolute ownership remains below 0.01% of the total capital, indicating a minor retail-level accumulation rather than a strategic consolidation of control.

Mangalam Global Enterprise has issued a postal ballot notice to seek shareholder approval for the appointment of two new independent directors and remuneration enhancements for key advisory board members. The voting process will run from September 12, 2026, to October 11, 2026.

The Board of Directors approved the appointment of Mr. Ramesh Kumar Agrawal and Ms. Purvi Jayendra Bhavsar as Additional Directors in the capacity of Non-Executive, Independent Directors on September 8, 2026. Both appointments are effective from September 8, 2026, for a consecutive period of five years. The company is seeking final shareholder ratification through a special resolution.

Director Profiles

Mr. Agrawal brings nearly four decades of experience in the banking and financial services sector, including a 34-year tenure with State Bank of India (SBI). He superannuated as General Manager in 2021 and holds a Bachelor’s degree in Commerce from Calcutta University. His expertise spans corporate lending, risk management, and compliance. He also holds directorships at Advait Energy Transitions Ltd. and Century Tradeserve Ltd.

Ms. Bhavsar is a first-generation entrepreneur with over 30 years of experience across Banking, Financial Services, Insurance (BFSI), and Telecom sectors. She is the Co-Founder of Pahal Financial Services Private Limited, an NBFC-MFI. Her previous roles include senior positions at Kotak Mahindra, HDFC Bank, ICICI Bank, and Vodafone India.

Remuneration Approvals

The postal ballot also seeks approval for ordinary resolutions regarding remuneration enhancements for Ms. Tanisha Mangal and Ms. Honey Mangal, both Members of the Advisory Board.

Both Ms. Tanisha Mangal and Ms. Honey Mangal currently draw ₹2,50,000 per month. The proposed enhancement requires shareholder approval under Section 188(1)(f) of the Companies Act, 2013, as their monthly remuneration will exceed the statutory limit of ₹2,50,000.

Postal Ballot Process

The cut-off date for the postal ballot is fixed at September 4, 2026. Shareholders holding shares as on this date are eligible to vote. The remote e-voting facility is provided by MUFG Intime India Private Limited through its InstaVOTE platform. The voting period commences on Saturday, September 12, 2026, at 9:00 am and ends on Sunday, October 11, 2026, at 5:00 pm.

Mr. Rajesh Parekh, Partner at RPSS & Co., has been appointed as the Scrutinizer for the process. The results will be announced within two working days of the conclusion of the e-voting period. Both appointees are not related to any existing Directors or Key Managerial Personnel of the company and are not debarred from holding office by SEBI or other authorities.