Greenply Industries has witnessed an increase in promoter group shareholding following an open market acquisition by Shakuntala Safeinvest Private Limited. The transaction, completed on February 23, 2026, involved the purchase of 21,700 equity shares, demonstrating continued confidence from the promoter group in the company's prospects.

Transaction Details

The acquisition was executed through open market purchase, with Shakuntala Safeinvest Private Limited (formerly known as Showan Investment Private Limited) being the primary acquirer. The transaction details are outlined below:

Shareholding Changes

The acquisition resulted in marginal but meaningful changes to the shareholding structure:

Promoter Group Composition

The promoter group comprises multiple entities and individuals acting in concert, including:

• Key Individuals: Rajesh Mittal, Sanidhya Mittal, Shobhan Mittal, Shiv Prakash Mittal, Chitwan Mittal, and other family members
• Corporate Entities: Karuna Investment Private Limited, Prime Holdings Private Ltd., Niranjan Infrastructure Private Ltd., RS Homcon Limited, and others
• Trusts and HUFs: Mittal Business Holdings Trust, Rajesh Mittal & Sons HUF, RKS Family Foundation
• Partnership Firms: Trade Combines (represented by Rajesh Mittal)
• International Entity: Kengwood Holding and Equipments FZCO, incorporated in Dubai

Share Capital Structure

Greenply Industries maintains a stable equity structure with 12,48,87,795 equity shares of face value Re.1/- each. The company's shares are listed on both the National Stock Exchange of India Limited and BSE Limited. Notably, 44,035 equity shares have been transferred to the Investor Education and Protection Fund, though their voting rights remain frozen until claimed by rightful owners.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction involved no encumbrances, warrants, or convertible securities, maintaining transparency in the shareholding structure. All voting rights continue to be held through equity shares only, with no alternative voting arrangements in place.

Greenply Industries has announced the termination of its joint venture agreement and acquisition of full control over its Singapore subsidiary. The company's Board of Directors approved the transaction on 4th February, 2026, with the Joint Venture Termination and Share Transfer Agreement executed on 23rd February, 2026.

Transaction Overview

The acquisition involves termination of the joint venture agreement dated 30th January, 2014 between Greenply Industries Limited and Kulmeet Singh. Under the new arrangement, Greenply Holdings Pte. Ltd., Singapore will acquire the remaining 50% shares held by Kulmeet Singh in Greenply Alkemal (Singapore) Pte. Ltd.

Target Company Profile

Greenply Alkemal (Singapore) Pte. Ltd. was incorporated on 14th May, 2014 under the Singapore Companies Act. The company operates in the trading and marketing of commercial veneers and panel products. Currently, both Greenply Holdings Pte. Ltd. and Kulmeet Singh hold equal 50% stakes in the joint venture company.

Financial Performance

The Singapore subsidiary has demonstrated strong growth in recent years:

Strategic Impact

Following the completion of this acquisition, Greenply Alkemal (Singapore) Pte. Ltd. will become a wholly owned subsidiary of Greenply Holdings Pte. Ltd., Singapore. This will consequently make it a step-down wholly owned subsidiary of Greenply Industries Limited, providing the company with complete operational control.

The parties agreed to terminate the joint venture agreement as there was no active business being conducted with the JV partner under the joint venture company structure. The transaction is classified as a related party transaction and will be executed in compliance with all applicable laws.

Regulatory Compliance

The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has indicated that necessary regulatory approvals, if required, will be obtained before executing the proposed transactions. The acquisition will be completed during FY 2025-26 through cash consideration.