Rasiklal P Sanghavi (HUF) and seven persons acting in concert (PACs) have filed a substantial acquisition disclosure for A B Infrabuild Limited under SEBI Regulation 29(2). The disclosure reveals significant changes in their collective shareholding through a combination of open market transactions and rights issue participation.

Shareholding Changes Overview

The acquirer group's total holding decreased from 12.39% to 10.51% of A B Infrabuild Limited's voting capital. This represents a net reduction of 1.88% in their collective stake.

Individual Stakeholder Positions

The disclosure shows varied changes in individual holdings among the PACs:

Post-Transaction Holdings

Transaction Details

The transactions involved both acquisitions and disposals across the group members. Notable movements included substantial purchases by Yogeshkumar Rasiklal Sanghavi of 1,27,97,220 shares (2.00%) and significant sales by Jitendra Rasiklal Sanghavi of 2,06,64,942 shares (3.24%).

The mode of acquisition included sale and purchase through open market transactions and subscription to equity shares under the rights issue. The company's equity share capital remained unchanged at Rs. 63,87,89,360, divided into 63,87,89,360 equity shares of Re. 1 each.

Regulatory Compliance

The disclosure confirms that the acquirer group does not belong to the promoter or promoter group category. A B Infrabuild Limited's shares are listed on both the National Stock Exchange of India Limited and BSE Limited. The filing was made on behalf of all acquirer and PAC entities by Rasiklal P Sanghavi (HUF) as the primary acquirer.

B&A has announced the re-appointment of Mr. Somnath Chatterjee as Managing Director, marking a continuation of experienced leadership at the company. The re-appointment is subject to shareholder approval and represents confidence in his proven track record.

Re-appointment Details

The company has disclosed the re-appointment under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table outlines the key parameters of the re-appointment:

Professional Background

Mr. Somnath Chatterjee brings extensive experience to his continued role as Managing Director. Born in 1962, he is a Commerce graduate who received specialized training in the United Kingdom focusing on manufacturing of packaging products. His professional expertise spans multiple critical business areas:

• Finance management
• Production operations
• Human resource development
• Commercial matters

His industry experience covers both tea plantation and packaging business sectors, providing valuable cross-industry insights for the company's operations.

Tenure and Experience

Mr. Chatterjee has demonstrated long-term commitment to the organization, having served as a Director since 2006. His over forty years of professional experience positions him well to continue leading the company's strategic initiatives and operational excellence.

Regulatory Compliance

The company has confirmed that Mr. Somnath Chatterjee meets all regulatory requirements for the position. According to the disclosure, he is not debarred from holding the office of Director pursuant to any SEBI Order or order of any such authority. Additionally, none of the Directors of the company are inter se related to Mr. Chatterjee, ensuring independence in board composition.

The re-appointment reflects the board's confidence in Mr. Chatterjee's leadership capabilities and his contribution to the company's growth trajectory over his tenure.