Bajoria Group Strengthens Hold on IFGL Refractories with 15.51% Stake Acquisition

In a significant move that reshapes the ownership structure of IFGL Refractories Limited , Bajoria Financial Services Private Limited and its promoter group have substantially increased their stake in the company. The group acquired 55,90,156 equity shares through an inter-se transfer from Krosaki Harima Corporation, Japan, boosting their shareholding from 56.92% to 72.43%.

Transaction Details

The acquisition, completed on August 17, 2023, marks a notable shift in the company's ownership dynamics. Here's a breakdown of the key details:

Aspect	Details
Acquirer	Bajoria Financial Services Private Limited and promoter group
Seller	Krosaki Harima Corporation, Japan
Shares Acquired	55,90,156
Mode of Acquisition	Inter-se transfer
Date of Completion	August 17, 2023
Pre-transaction Shareholding	56.92%
Post-transaction Shareholding	72.43%
Increase in Shareholding	15.51%

Company Overview

IFGL Refractories Limited has a total equity share capital of 3,60,39,312 shares, each with a face value of Rs. 10 and fully paid up.

Promoter Group Composition

The Bajoria promoter group involved in this transaction includes:

Shishir Kumar Bajoria
Smita Bajoria
Mihir Prakash Bajoria
SK Bajoria HUF
Bajoria Enterprises Ltd

This strategic move by the Bajoria group consolidates their control over IFGL Refractories, potentially influencing the company's future direction and decision-making processes. The substantial increase in shareholding from 56.92% to 72.43% strengthens their position as the dominant shareholder group.

The inter-se transfer from Krosaki Harima Corporation, a Japanese entity, to the Indian promoter group may also have implications for the company's international relationships and business strategies going forward.

Investors and market watchers will likely be keen to observe how this change in ownership structure might impact IFGL Refractories' operations, governance, and strategic initiatives in the coming months.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.69%	-2.75%	-15.99%	+42.31%	-12.51%	+253.28%

IFGL Refractories , a prominent player in the refractory industry, has announced a significant addition to its executive team. Effective October 14, 2025, Manoranjan Beura has been appointed as the company's new Chief Sales Officer, bringing with him a wealth of experience in the refractory sector.

Professional Background

Manoranjan Beura comes to IFGL Refractories with an impressive educational and professional background:

Aspect	Details
Education	- Bachelor's degree in Mechanical Engineering - Executive MBA from IIM Vizag
Experience	Over two decades in the refractory industry
Expertise Areas	- Sales - Marketing - Supply Chain Management

Strategic Appointment

This appointment appears to be a strategic move by IFGL Refractories to strengthen its sales leadership. Beura's extensive experience in the refractory industry, coupled with his educational background, positions him well to drive the company's sales strategies and potentially expand its market presence.

Company Disclosure

In compliance with regulatory requirements, IFGL Refractories made this announcement through a formal disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also made this information available on its official website, demonstrating transparency in its corporate communications.

Industry Implications

The refractory industry, which provides crucial materials for high-temperature applications in various sectors including steel, cement, and glass manufacturing, is known for its technical complexity. Beura's appointment may signal IFGL Refractories' intent to enhance its sales approach, potentially leveraging his technical background and industry knowledge to address the evolving needs of its clients.

As IFGL Refractories welcomes Manoranjan Beura to this crucial role, stakeholders will likely be watching closely to see how his leadership influences the company's sales performance and market position in the coming years.