Sumeru Industries Limited , a company listed on the Bombay Stock Exchange (BSE: 530445), has reported a significant change in its shareholding pattern. Mrs. Pooja Raja, acting as a Person Acting in Concert (PAC), has increased her stake in the company through an off-market transaction.

Transaction Details

Mrs. Raja acquired 100,000 equity shares of Sumeru Industries Limited through an off-market purchase. This transaction has resulted in a notable increase in her shareholding in the company.

Shareholding Impact

Following the acquisition, Mrs. Raja's stake in Sumeru Industries has grown as follows:

The company's total equity capital stands at 7.2 crore shares, each with a face value of Rs. 1.

Regulatory Compliance

Sumeru Industries Limited has duly disclosed this transaction in compliance with the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares. The company filed the required intimation under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Key Points

• Mrs. Pooja Raja is not part of the promoter or promoter group of Sumeru Industries Limited.
• The transaction was executed as an off-market purchase, indicating a direct deal between parties rather than through the stock exchange.
• The disclosure was made to the Bombay Stock Exchange within the stipulated time frame as per SEBI regulations.

This acquisition by Mrs. Raja represents a small but notable change in the ownership structure of Sumeru Industries Limited. While the impact on the company's operations remains to be seen, such transactions often attract attention from market participants and analysts tracking the stock.

Several companies, including Sumeru Industries , Hero MotoCorp, and Dev Accelerator Limited, have reported their financial results or made significant announcements in recent days.

Sumeru Industries Publishes Q1 Results

Sumeru Industries Limited has submitted newspaper publications of its unaudited financial results for the quarter ended June 30. The results were published in Western Times and Jayhind Daily on August 8, as per the company's regulatory filing dated August 13. The publication of these results complies with SEBI regulations, demonstrating the company's commitment to transparency and timely disclosure to its shareholders.

Hero MotoCorp Reports Strong Q1 Performance

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, announced its financial results for the first quarter. The company reported:

*Includes a one-time gain of Rs. 722 crore from dilution of investment in associates.

Hero MotoCorp's Chief Financial Officer, Vivek Anand, expressed confidence in the company's performance, citing strong demand for entry and deluxe motorcycles, as well as the 125cc scooter segment. The company also reported good traction in its electric mobility business (VIDA) and strong performance in global operations.

Dev Accelerator Receives SEBI Approval for IPO

Dev Accelerator Limited, an Ahmedabad-based flex space provider, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO will comprise fresh equity shares with no offer for sale component.

Key highlights of Dev Accelerator:

• Operates 25 centers across 11 cities
• Over 230 clients
• Reported profit after tax of Rs. 4.37 million in FY 2023-24
• Total revenue of Rs. 1,080.87 million in FY 2023-24

The company plans to use the IPO proceeds for capital expenditure on fit-outs in proposed centers, repayment of borrowings, and general corporate purposes.

Other Company Results

Several other companies also published their quarterly financial results, including:

• Shree Narmada Aluminium Industries
• ISL Consulting Limited
• Rolcon Engineering Company

These financial results and corporate announcements reflect the diverse business landscape and ongoing economic activities across various sectors in India.