Shankara Building Products has undergone a significant change in its shareholding structure as Franklin Templeton Mutual Fund completely divested its stake in the company. The mutual fund giant sold its entire holding of 1,052,838 shares, representing 4.34% of the company's total equity, through open market transactions on October 9, 2025.

Transaction Details

The stake sale was executed entirely through the Franklin India Small Cap Fund scheme. Following this transaction, Franklin Templeton's holding in Shankara Building Products has reduced to zero from its previous 4.34% stake.

Company Information

Shankara Building Products, a player in the building materials sector, has its shares listed on both the National Stock Exchange of India and BSE Limited. The company's total equity share capital stands at 24,249,326 shares.

Regulatory Compliance

In compliance with SEBI regulations, specifically Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Franklin Templeton Mutual Fund has duly disclosed the details of this transaction. The disclosure, dated October 10, 2025, provides a comprehensive breakdown of the stake sale, including pre-sale and post-sale holdings.

This move by Franklin Templeton could potentially impact the stock's trading dynamics and might be of interest to other institutional investors and market participants tracking the building materials sector.

Shankara Building Products Limited , a prominent player in the building materials retail sector, has announced significant changes in its top management as part of a broader corporate restructuring initiative.

CFO Transition

Alex Varghese, the Chief Financial Officer (CFO) of Shankara Building Products Limited, has tendered his resignation from the company. According to the official communication to the stock exchanges, Varghese will be relieved from his duties effective October 3, 2025. This move comes as part of his transition to a new role as the CFO of Shankara BuildPro Limited, described as the "Resulting Company" in the corporate announcement.

Corporate Restructuring

The resignation is linked to a larger corporate restructuring effort, specifically mentioned as a "Composite Scheme of Arrangement" between Shankara Building Products Limited (referred to as the 'Demerged Company') and Shankara BuildPro Limited (the 'Resulting Company'). This scheme suggests a significant reorganization within the Shankara group of companies.

Additional Management Changes

The LODR data reveals that it's not just the CFO position that's undergoing changes. Ereena Vikram, the Company Secretary and Compliance Officer, has also submitted her resignation, effective on the same date as Varghese. She too will be transitioning to Shankara BuildPro Limited in a similar capacity.

Compliance and Future Appointments

Shankara Building Products has assured stakeholders that it is in the process of appointing new Key Managerial Personnel (KMP) as required under the Companies Act, 2013 and SEBI Regulations. The company has committed to making these appointments within the stipulated time frame prescribed by applicable laws.

Management's Statement

Sukumar Srinivas, the Managing Director of Shankara Building Products Limited, signed off on the official communications regarding these changes. The company expressed gratitude to both Alex Varghese and Ereena Vikram for their services and wished them well in their new roles at Shankara BuildPro Limited.

These management changes and the underlying corporate restructuring indicate a significant strategic shift for Shankara Building Products Limited. Stakeholders and market observers will be keenly watching how these changes impact the company's operations and market position in the coming months.