Satani Bearings Limited Completes Open Offer and Reclassifies Existing Promoters to Public Category

2 min read Updated on 14 Mar 2026, 07:28 PM

Reviewed by

Radhika SScanX News Team

AI Summary

Satani Bearings Limited successfully completed its open offer on March 13, 2026, leading to the reclassification of 12 existing promoters to public shareholders under SEBI regulations. The current promoter group, dominated by the Satani family, now holds 69.66% shareholding with 13931070 shares, while the reclassified entities hold nil shares and have no control over company affairs.

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

Satani Bearings Limited has announced the successful completion of its open offer and the subsequent reclassification of existing promoters to public category under regulatory compliance requirements.

Open Offer Completion

The open offer made by four acquirers - Pareshbhai Gushabhai Satani, Tanuj Pareshkumar Satani, Chirag Ramjibhai Satani, and Ramjibhai Gushabhai Satani - to public shareholders of Satani Bearings Limited was successfully completed on March 13, 2026. The offer was conducted in accordance with Regulations 3(1) and 4 read with Regulation 15(1) and Regulation 13(2A)(i) of the SEBI (SAST) Regulations, 2011.

Promoter Reclassification Details

Pursuant to the completion of the open offer and under Regulation 31A of the SEBI (LODR) Regulations, 2015, twelve existing promoters and promoter group entities will cease to be classified as promoters and will be reclassified as public shareholders.

Sr. No.	Name of Existing Promoter	Category	No. of Shares Held	% of Shareholding
1	NIRUPA N VORA HUF	Promoter Group	Nil	NA
2	NIRUPA N VORA	Promoter	Nil	NA
3	KIRAN NAGINDAS VORA	Promoter	Nil	NA
4	PRERNA KIRAN VORA	Promoter	Nil	NA
5	KIRAN VORA HUF	Promoter Group	Nil	NA
6	NIP EXPORTS PRIVATE LIMITED	Promoter Group	Nil	NA
7	MUKESH N VORA	Promoter	Nil	NA
8	MANALI M VORA	Promoter	Nil	NA
9	GOPA M VORA	Promoter	Nil	NA
10	MUKESH N VORA HUF	Promoter Group	Nil	NA
11	MANISH N VORA	Promoter	Nil	NA
12	MANISH N VORA HUF	Promoter Group	Nil	NA

The company confirmed that these reclassified entities do not hold any control over company affairs, are not involved in management, have no special rights, lack board representation, and will not serve as Key Managerial Personnel.

Current Promoter Structure

Following the reclassification, the current promoter group consists of seven individuals, with the Satani family holding the majority stake. Three existing promoters - Hashmukh R Gandhi, Bhagatsingh Rajpurohit, and Balu Narang - will continue to be classified as promoters.

Sr. No.	Name of Current Promoter	Category	No. of Shares Held	% of Shareholding
1	Paresh Gushabhai Satani	Promoter	5211931	26.06
2	Chirag Ramjibhai Satani	Promoter	2900000	14.5
3	Ramjibhai Gushabhai Satani	Promoter	2900000	14.5
4	Tanuj Pareshkumar Satani	Promoter	2900000	14.5
5	Hashmukh R Ghandhi	Promoter	14173	0.07
6	Bhagatsingh Rajpurohit	Promoter	2836	0.01
7	Balu K Narang	Promoter	2130	0.01
Total			13931070	69.66

Regulatory Compliance

The company has confirmed compliance with all conditions prescribed under Regulation 31A of the SEBI (LODR) Regulations, 2015 for the reclassification process. The intimation was formally communicated to BSE Limited on March 14, 2026, signed by Tanuj Satani, Whole-time Director of the company.