Fiem Industries Limited , a leading manufacturer of automotive lighting and signaling equipment, has witnessed a significant change in its promoter shareholding. Three key promoters of the company - Aanchal Jain, Seema Jain, and Rahul Jain - have collectively sold 11,70,000 equity shares, representing a 4.45% stake in the company, through open market transactions.

Details of the Stake Sale

The stake sale was executed in two tranches:

1. On September 5, each promoter sold 1,30,000 shares, totaling 3,90,000 equity shares (1.48% of the company's equity).
2. On September 17, each promoter further offloaded 2,60,000 shares, amounting to 7,80,000 equity shares (2.96% of the company's equity).

Impact on Promoter Shareholding

Following this sale, the promoter group's total shareholding in Fiem Industries has decreased from 58.96% to 54.52%. The individual shareholding of the three promoters post-sale is as follows:

Other Key Points

• The company's equity share capital remains unchanged at Rs. 26,31,96,600.
• Fiem Industries' shares are listed on both the BSE Limited and the National Stock Exchange of India Limited.
• The sale was conducted through open market transactions, as disclosed in the regulatory filings.

Market Impact

Following the announcement of this significant promoter stake sale, the company observed an increase in trading volume. In response to a query from the BSE regarding the volume movement, Fiem Industries clarified that it had made all necessary disclosures as required under SEBI regulations and was not aware of any other information that could have impacted the stock's price or volume behavior.

This stake sale by promoters could potentially increase the free float of Fiem Industries' shares in the market, which may lead to increased liquidity for the stock. Investors and market analysts will likely monitor any further changes in the company's shareholding pattern and its potential implications on the stock's performance.

Fiem Industries Limited , a leading manufacturer of automotive lighting and signaling equipment, has concluded its insurance claim process for a fire incident that occurred over three years ago. The company recently received the final installment of its insurance payout, marking the end of a long-standing claim.

Final Insurance Payment Received

In the first week of February 2021, Fiem Industries received the last tranche of its insurance claim, amounting to Rs 5.42 crore. This payment is related to a fire incident that took place on January 25, 2018, at the company's Unit-5 facility in Hosur, Tamil Nadu.

Total Claim Realization

With this final payment, Fiem Industries has successfully realized a total insurance claim of Rs 22.10 crore. This amount covers a significant portion of the actual damage incurred during the fire incident, which was estimated at Rs 26.16 crore.

Board Acknowledgment

The Board of Directors of Fiem Industries took note of this development during their meeting held on February 12, 2021. This acknowledgment underscores the importance of the insurance settlement in the company's financial landscape.

Impact Analysis

While the insurance payout falls short of the total damage by approximately Rs 4.06 crore, it represents a substantial recovery of about 84.50% of the losses incurred. This outcome demonstrates the company's robust risk management practices and the importance of comprehensive insurance coverage in mitigating unforeseen events.

The conclusion of this long-standing insurance claim process is expected to provide clarity on the financial impact of the 2018 fire incident and allow Fiem Industries to move forward with its business operations without the lingering uncertainty of unresolved claims.