Premier Explosives Limited , a key player in the explosives industry, has reported a significant change in its promoter shareholding structure. The company disclosed an inter-se transfer of equity shares between promoter entities, resulting in an increased shareholding for two of its key promoters.

Details of the Transfer

The transfer involved the following key points:

• Acquirers: Dr. Amarnath Gupta and Dr. Kailash Gupta (joint holders)
• Transferor: Amarnath Gupta HUF
• Number of Shares Transferred: 32,83,485 equity shares
• Mode of Transfer: Off-market transaction
• Reason for Transfer: Partition of the Amarnath Gupta HUF

Impact on Shareholding

The inter-se transfer has led to a significant change in the promoters' individual shareholding:

Key Points to Note

1. The total equity share capital of Premier Explosives Limited remains unchanged at INR 10,75,22,390, consisting of 5,37,61,195 equity shares with a face value of INR 2 each.

2. Despite the individual increase in shareholding for Dr. Amarnath Gupta and Dr. Kailash Gupta, the aggregate shareholding of the promoter group remains unaltered. This is because the transfer occurred between promoter entities.

3. The company has duly informed the stock exchanges about this change in shareholding structure, in compliance with SEBI regulations.

This inter-se transfer among promoters indicates a restructuring within the promoter group of Premier Explosives Limited. While it doesn't affect the overall promoter group holding, it does consolidate a larger portion of shares under the direct ownership of Dr. Amarnath Gupta and Dr. Kailash Gupta. Investors and market watchers may want to take note of this change in the company's ownership structure.

Premier Explosives Limited (PEL) has received authorization to restart production at its Telangana manufacturing facility, marking a significant development for the company. This news comes alongside a recent credit rating assignment for the company's bank loan facilities.

Telangana Plant Reopening

The Telangana Pollution Control Board (TGPCB) has revoked its previous closure order for Premier Explosives' factory located in Katepally Village, Motakondur Mandal, Yadadri-Bhuvanagiri District, Telangana. This decision allows the company to resume its production activities at the facility.

The closure order was initially issued following an accident that occurred on April 29. Premier Explosives has committed to ensuring compliance with all conditions mentioned in the TGPCB's order.

Credit Rating Update

In a separate development, India Ratings and Research Private Limited has assigned credit ratings for Premier Explosives Limited's bank loan facilities. The details of the rating are as follows:

The assigned rating of 'IND A-' with a Stable outlook for the long-term perspective and 'IND A2+' for the short-term indicate a relatively low risk of default regarding timely servicing of financial obligations.

Conclusion

These developments, both the reopening of the Telangana plant and the credit rating assignment, are expected to have positive implications for Premier Explosives Limited's operations and financial standing.

The company's management expressed their commitment to maintaining high standards of safety and environmental compliance while resuming operations at the Telangana facility. Shareholders and stakeholders will likely be monitoring the impact of these developments on the company's performance in the near future.