Salim Pyarali Govani and persons acting in concert (PAC) acquired 12,500 equity shares of MSL Global on the Bombay Stock Exchange. The purchase increased their total holding to 17.42% of the paid-up share capital.

The transaction was executed through the open market mechanism on September 1, 2026. The disclosure was filed with the stock exchange on September 1, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Details

The promoter group purchased the shares on September 1, 2026. The acquirer is classified as part of the promoter group. The total equity share capital of MSL Global Limited remains unchanged at 2,14,19,487 shares following this transaction.

Persons Acting in Concert

The disclosure lists six entities acting in concert with Salim Pyarali Govani:

• Foresight Holdings Private Limited
• Indusage Advisors Limited
• Sausan Mohammedali Bukhari
• Mishal Salim Govani
• Sonia Salim Govani
• Aimann Salim Govani

What the Numbers Show

The latest acquisition adds 0.06% to the promoter group’s existing stake of 17.36%. This follows a previous buy of 41,208 shares on August 28, which had raised the stake from 17.17% to 17.36%. The combined moves consolidate promoter control without altering the company’s overall equity structure.

Madhusudan Securities Ltd acknowledged a warning letter from BSE Limited regarding a significant delay in filing its application to change its name to MSL Global Limited. The exchange flagged the lapse after the company took nearly a year to submit the application following regulatory approval. The delay has resulted in the company being in non-compliance with Regulation 45(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and BSE stated that this non-compliance will be reported to SEBI.

According to the communication from BSE, the company received approval from the Registrar of Companies (ROC) on June 26, 2025. However, the name change application and a clarification letter regarding the delay were only filed on June 17, 2026. BSE observed that there was a considerable delay in the filing process.

Response and Compliance

In its response dated June 29, 2026, Madhusudan Securities Ltd stated that the warning letter and the observations highlighted therein have been duly noted. The company clarified that the matter will be placed before its Board of Directors for consideration and review in an upcoming meeting.

The company acknowledged the importance of timely compliance with regulatory requirements and committed to exercising due care to ensure adherence to prescribed timelines in the future. It stated that necessary measures would be taken to prevent the recurrence of such delays.

Key Dates and Events

BSE advised the company to be cautious in the future and to intimate the corrective steps taken to avoid such lapses. The exchange also requested the company to provide details of the Board Meeting where the BSE advisory is placed before the Board of Directors.