Sangita sells 15.43% stake in Laser Diamonds in off-market deal

1 min read | Published on 18 Sept 2026, 10:50 AM |Updated on 18 Sept 2026, 10:50 AM

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Jubin VScanX News Team

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Key Highlights

Sangita sold 6,24,800 shares in Laser Diamonds Limited on September 12, 2026
The off-market transaction reduced her stake from 38.57% to 23.14%
The disposal was filed under SEBI SAST Regulation 29(2)
Laser Diamonds' total equity capital remains at ₹4,05,00,000

*this image is generated using AI for illustrative purposes only.

Sangita disposed of a 15.43% stake in Laser Diamonds Limited through an off-market transaction on September 12, 2026. The sale involved 6,24,800 equity shares, significantly reducing her voting power in the BSE-listed company.

The transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Sangita is not classified as part of the promoter or promoter group of the target company.

Transaction Details

Prior to this disposal, Sangita held 15,62,000 shares, representing 38.57% of the total share and voting capital. None of these shares were encumbered by pledge, lien, or non-disposal undertakings.

Metric	Before Sale	Shares Sold	After Sale
Shares Held	15,62,000	6,24,800	9,37,200
Stake Percentage	38.57%	15.43%	23.14%

Following the sale, her remaining holding stands at 9,37,200 shares, equating to 23.14% of the total diluted share capital. The total equity share capital of Laser Diamonds Limited remains unchanged at ₹4,05,00,000, comprising 40,50,000 equity shares of ₹10 each.

What the Numbers Show

The off-market nature of the transaction suggests a negotiated block deal rather than open-market trading, often indicating a strategic exit or restructuring by a substantial shareholder. With the stake dropping below the 25% threshold commonly associated with significant control blocks, this move may alter the shareholder dynamics of the company.

How might the reduction of Sangita's stake below the 25% control threshold impact Laser Diamonds Limited's corporate governance and decision-making processes?

What are the potential implications for the stock's liquidity and price volatility given that this was an off-market block deal rather than an open-market sale?

Who is the likely buyer in this off-market transaction, and does their identity suggest a strategic partnership or a passive investment approach?

Laser Diamonds shareholders approve name change to Turner Industries

1 min read | Published on 11 Sept 2026, 03:03 PM |Updated on 11 Sept 2026, 03:03 PM

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Jubin VScanX News Team

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Key Highlights

Shareholders unanimously approved changing the company name from Laser Diamonds Limited to Turner Industries Limited
The resolution was passed via physical ballot with 15 members attending and 2,019,799 shares voted
Mr. Nikhil N Kumar was appointed as statutory auditor to fill a casual vacancy
The Registrar of Companies certified the name change on February 8, 2018

*this image is generated using AI for illustrative purposes only.

Laser Diamonds Limited shareholders approved the corporate name change to Turner Industries Limited at an Extraordinary General Meeting held on December 22, 2017. The special resolution received unanimous support from members present.

The company also appointed Mr. Nikhil N Kumar as statutory auditor to fill a casual vacancy caused by the resignation of M/s. Bharat Kumar N. Jain.

Voting Results

Fifteen members attended the meeting in person. No votes were cast via remote e-voting. All resolutions were passed with 100% of the valid votes cast.

Resolution	Type	Votes For (Shares)	Result
Name change	Special	2,019,799	Passed
Alter MOA name clause	Special	2,019,799	Passed
Alter AOA name clause	Special	2,019,799	Passed
Vesting of assets/liabilities	Special	2,019,799	Passed
Appointment of Statutory Auditor	Ordinary	2,019,799	Passed

Corporate Governance

The Registrar of Companies issued the Certificate of Incorporation for the name change on February 8, 2018. The company notified the Bombay Stock Exchange of the transition on February 14, 2018.

Mr. Nikhil N Kumar will hold the office of statutory auditor until the conclusion of the Annual General Meeting in 2018. He will conduct the statutory audit for FY18.

What strategic business shifts or market repositioning prompted Laser Diamonds Limited to rebrand as Turner Industries Limited?

How will the transition to Turner Industries Limited impact the company's stock liquidity and trading volume on the Bombay Stock Exchange?

Will Mr. Nikhil N Kumar be proposed for appointment as statutory auditor beyond the current term ending at the 2018 Annual General Meeting?