Usha Martin Limited , a prominent player in the wire rope manufacturing industry, has witnessed a slight reduction in its promoter group's shareholding. Peterhouse Investments Limited, a promoter entity of Usha Martin, has recently sold a portion of its stake in the company through open market transactions.

Transaction Details

Peterhouse Investments Limited offloaded 200,000 equity shares of Usha Martin Limited through open market transactions on the National Stock Exchange (NSE). This sale has resulted in a marginal decrease in Peterhouse's shareholding in the company.

Impact on Shareholding

Following the transaction, Peterhouse Investments' stake in Usha Martin has been reduced from 1.53% to 1.46% of the company's total share capital. The sale represents approximately 0.07% of Usha Martin's total voting capital.

Remaining Stake and GDRs

After the sale, Peterhouse Investments Limited continues to hold 4,450,000 equity shares in Usha Martin. Additionally, the promoter entity retains 185,691 Global Depository Receipts (GDRs) that can be converted into 928,455 equity shares at the option of the holder.

Company Listing Information

Usha Martin's shares are listed on multiple exchanges:

• Bombay Stock Exchange (BSE)
• National Stock Exchange of India (NSE)
• Luxembourg Stock Exchange (GDRs are listed)

Regulatory Compliance

The transaction details were disclosed in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulatory filing ensures transparency in the shareholding changes of promoter entities.

About Usha Martin Limited

Usha Martin Limited is recognized for its expertise in wire rope manufacturing. The company's total equity share capital stands at 304,741,780 shares, as per the latest filing with the stock exchanges under SEBI (LODR) regulations.

This minor change in promoter shareholding is part of the regular market activities and does not signify any major shift in the company's ownership structure or management control.

Usha Martin Limited , a prominent player in the Indian industrial sector, has announced a significant change in its investor services management. The company's Board of Directors has approved the appointment of KFin Technologies Limited as its new Registrar and Share Transfer Agent, replacing the current agent, MCS Share Transfer Agent Limited.

KFin Technologies: A Market Leader in Investor Servicing

KFin Technologies, holding SEBI registration number INR000000221, is recognized as the largest registrar and a market leader in investor servicing in India. This strategic move by Usha Martin is aimed at leveraging KFin's advanced technological infrastructure and expertise in share-related activities.

Reasons for the Change

Usha Martin's decision to switch to KFin Technologies was influenced by several factors:

1. Technological Advancement: KFin's infrastructure is noted for its technological sophistication, which is expected to enhance the efficiency of share-related processes.

2. Experienced Workforce: The company's team of professionals brings a wealth of experience in handling investor services.

3. Multiple E-Solutions: KFin offers a range of electronic solutions for various share-related activities, potentially streamlining operations for Usha Martin and its shareholders.

Transition Process

The transition from MCS Share Transfer Agent Limited to KFin Technologies will be carried out in a structured manner:

• MCS will continue to provide its services until the electronic connectivity is successfully transferred to KFin.
• Confirmations from depositories will be required to complete the transition.
• A tripartite agreement will be executed between Usha Martin, KFin Technologies, and MCS Share Transfer Agent Limited.

The effective date of this change will be communicated once all necessary agreements are finalized.

Implications for Shareholders

While this change in the Registrar and Share Transfer Agent is primarily an administrative move, it may bring about improvements in the way shareholders interact with the company for various share-related services. Shareholders can expect to benefit from KFin's advanced technological solutions and experienced team in managing their shareholding-related queries and transactions.

This strategic decision by Usha Martin's Board of Directors reflects the company's commitment to enhancing its investor services and staying abreast with technological advancements in the field of share registry and transfer services.