Sushil Kumar Agarwal increases stake to 32.23% via inter-se transfer
Sushil Kumar Agarwal increased his stake in Manaksia Coated Metals & Industries Limited to 32.23% by acquiring 2,020,827 shares via a gift from Sumitra Devi Agarwalla. The inter-se transfer took place on June 23, 2026, under SEBI takeover regulations. While the total promoter holding remains at 57.46%, the individual holdings within the group were adjusted.
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Sushil Kumar Agarwal, a member of the promoter group, has increased his shareholding in Manaksia Coated Metals & Industries Limited to 32.23% through an inter-se transfer of shares. The transaction involved the acquisition of 2,020,827 fully paid-up equity shares, representing 1.91% of the total paid-up equity share capital of the company. The shares were transferred by way of a gift from Sumitra Devi Agarwalla, a relative, on June 23, 2026.
The disclosure was submitted to the stock exchanges in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, Agarwal held 32,088,205 shares, which accounted for 30.32% of the company's equity. The transfer did not involve any monetary consideration as it was structured as a gift among promoter group members.
Shareholding Pattern Changes
The transaction altered the shareholding distribution within the promoter group while the total promoter holding remained unchanged at 57.46%. The following table details the pre- and post-transaction shareholding figures for the acquirer and the seller.
| Category | Shareholder | Pre Transaction Shares | Pre Transaction % | Post Transaction Shares | Post Transaction % |
|---|---|---|---|---|---|
| Acquirer | Sushil Kumar Agarwal | 32,088,205.00 | 30.32 | 34,109,032.00 | 32.23 |
| Seller | Sunitra Devi Agarwalla | 2,020,827 | 1.91 | 0 | 0 |
Persons Acting in Concert
The filing also identified several Persons Acting in Concert (PAC) with the acquirer. While their individual holdings remained static during this specific transaction, they form part of the broader promoter group structure. Key PAC members include Shailaja Agrawal, Karan Agrawal, and Tushar Agrawal, among others.
The total equity share capital of Manaksia Coated Metals & Industries Limited stands at ₹10,58,34,050, comprising 10,58,34,050 equity shares of ₹1 each. This capital structure remained unchanged before and after the acquisition. The company's shares are listed on BSE Ltd and the National Stock Exchange of India Limited.
Historical Stock Returns for Manaksia Coated Metals & Ind
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.11% | -7.19% | +3.89% | -21.02% | -19.32% | +644.70% |
Does this consolidation of shares by Sushil Kumar Agarwal signal a potential shift in the company's strategic direction or leadership?
Could this increase in individual holding be a precursor to further open market acquisitions by Agarwal to increase his stake?
How might this redistribution of promoter shares influence voting dynamics on key corporate resolutions in the future?
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