Promoter Vishnukumar Vitthalbhai Patel acquired 9,03,213 equity shares of Praveg Limited from fellow promoter group member Vitthalbhai Dwarkabhai Patel. The off-market transaction, executed via share transmission on August 27, 2026, resulted in no change to the promoter group’s aggregate holding.

The disclosure was filed with BSE Limited on August 31, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transfer adjusts individual holdings within the promoter circle without altering the total voting power controlled by the group.

Transaction Details

Vishnukumar Patel’s stake increased by 3.46% to reach 25.16% of the total share capital. Conversely, Vitthalbhai Patel’s holding dropped by the same percentage, reducing his individual stake to zero as he exited the disclosed shareholder list post-transfer. The transaction involved no encumbrances or convertible securities.

Promoter Group Stake

The combined holding of the promoter and promoter group entities remained stable at 1,20,72,294 shares, representing 46.18% of the total voting capital. The group includes Patel Ashaben Vishnukumar, Kamlaben Vitthalbhai Patel, Vishnubhai Vitthalbhai Patel HUF, Harsh Vishnubhai Patel, Zalak Harsh Patel, and Jhaveri Credits and Capital Limited. None of these other entities saw changes in their share counts during this transaction.

Capital Structure

The company’s equity share capital stands at ₹26,14,06,950, comprising 2,61,40,695 equity shares with a face value of ₹10 each. The total diluted voting capital is recorded at INR 26,15,01,760, consisting of 2,61,50,176 equity shares.

Praveg Limited shareholders approved three special resolutions at an Extra-Ordinary General Meeting (EGM) held on August 21, 2026. The resolutions cover amendments to existing loan agreements, the issuance of equity shares to the promoter group through the conversion of unsecured inter-corporate loans, and the issuance of warrants convertible into equity shares on a preferential basis.

The meeting was conducted via video conferencing. All three resolutions were passed with overwhelming support from voting shareholders. The promoter group, which holds 12,072,294 shares, voted in favor of all resolutions, casting 100% of its polled votes in support. Public institutional investors held 1,475,777 shares but did not cast any votes.

Voting Results Breakdown

Public non-institutional shareholders, holding 12,592,624 shares, participated actively in the remote e-voting process. They cast 705,517 votes, representing 5.60% of their outstanding shares. The detailed voting outcomes for each resolution are as follows:

The total number of votes polled across all categories was 12,770,311, which constituted 48.85% of the total outstanding shares of 26,140,695. No invalid votes were recorded for any of the resolutions.

What the Numbers Show

The voting data reveals a distinct divergence in participation between shareholder categories. While the promoter group demonstrated near-unanimous support with a 99.94% polling rate of its holdings, public institutional investors recorded 0% participation despite holding approximately 5.6% of the total share capital. This suggests that the approval of these capital structure changes relies heavily on promoter backing and retail/non-institutional public shareholder engagement, rather than institutional investor consensus.