Usha Martin Ltd saw a reduction in promoter group holding after Peterhouse Investments Limited sold 200,000 equity shares on September 22, 2026. The transaction was executed through the open market on the National Stock Exchange.

Disclosure details

The sale was reported under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Peterhouse Investments Limited, a member of the promoter group, reduced its direct shareholding from 2,250,000 shares to 2,050,000 shares.

Holding structure and GDRs

In addition to the equity shares sold, Peterhouse Investments Limited holds 185,691 Global Depositary Receipts (GDRs). These GDRs are convertible into 928,455 equity shares at the option of the holder. The disclosure notes that these convertible instruments remain outstanding post-transaction.

The total diluted share capital of the company remains unchanged at 30,47,41,780 shares, as the sale involved existing equity shares rather than new issuance or buybacks.

What the numbers show

The disposal represents a marginal shift in promoter confidence, with the stake reducing by 0.064 percentage points. While the absolute number of shares sold is significant, the remaining holding of 2,050,000 shares still constitutes a notable position within the promoter group structure. The retention of unconverted GDRs suggests potential future dilution or continued exposure through these instruments.

Usha Martin promoter Nidhi Rajgarhia disposed of 24,000 equity shares in the company through open market transactions on September 17 and 18, 2026. The sale reduces her total holding to 217,000 shares, representing a 0.071% stake in the firm.

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, filed with the National Stock Exchange and Bombay Stock Exchange on September 19, 2026. Rajgarhia, identified as part of the promoter group, executed the sales on the National Stock Exchange.

Shareholding Changes

Prior to the transaction, Rajgarhia held 241,000 equity shares, accounting for 0.079% of the company’s total voting capital. The disposal of 24,000 shares, equivalent to 0.008% of the capital, brought her post-transaction holding down to 217,000 shares or 0.071%. No encumbrances, warrants, or convertible securities were involved in the transaction.

The company’s total equity share capital remained unchanged at 30,47,41,780 shares following the transaction. The diluted share capital also stands at 30,47,41,780 shares.

Regulatory Compliance

The filing confirms that the shares were traded on the open market rather than through off-market transfers or preferential allotments. As per SEBI regulations, such disclosures are mandatory for promoters and persons acting in concert when their shareholding changes significantly or as part of routine reporting obligations for substantial shareholders. The declaration was signed by Nidhi Rajgarhia and submitted to the company secretary at Usha Martin Limited’s Kolkata headquarters.