Niraj Jalan has filed regulatory disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for acquiring a significant stake in Nilachal Refractories through inter-promoter gift transfers. The transaction involves the acquisition of 10,55,000 equity shares, representing approximately 5.18% of the company's paid-up equity share capital.

Regulatory Filing Details

The disclosure was filed on March 2, 2026, with BSE Ltd. and The Calcutta Stock Exchange Ltd. The filing confirms that four acquirer entities - Bhagwati Prasad Jalan, Bhagwati Prasad Jalan & Sons HUF, Niraj Jalan, and Pankaj Jalan - will receive shares from existing promoters through gift transfers.

Transaction Structure

The acquisition involves multiple transfers between promoter entities, with shares being redistributed among the promoter group through off-market transactions.

Shareholding Impact

The regulatory filing confirms the collective holding of the acquiring entities will increase significantly following the transaction completion.

Stock Exchange Listings

Nilachal Refractories shares are listed on BSE Ltd. (Scrip Code: 502294) and The Calcutta Stock Exchange Ltd. (Scrip Code: 019120). The company's total equity share capital stands at 20,36,14,500 shares before and after the proposed transaction.

Compliance Framework

The disclosure filing indicates compliance with SEBI regulations for substantial acquisition of shares. As an inter-promoter transfer with no monetary consideration, the transaction qualifies for exemption from mandatory open offer requirements under the Takeover Regulations.

Nilachal Refractories Ltd's promoter group has completed a substantial acquisition of shares, with Niraj Jalan and associated promoter entities acquiring 10,55,000 shares representing 5.18% of the company's equity capital. The transaction was executed through inter-se transfer among promoters on February 6, 2026.

Transaction Overview

The acquisition involved four key promoter group members acquiring shares from existing promoter entities. The total equity share capital of Nilachal Refractories stands at 203,614,500 shares, with the company's shares listed on BSE Ltd and The Calcutta Stock Exchange Ltd.

Detailed Transfer Breakdown

The acquisition comprised multiple transfers between promoter entities, with the largest single transfer involving Pankaj Jalan acquiring 6,65,000 shares from Piyush Jalan.

Promoter Group Holdings

Following the acquisition, the combined holding of the promoter group increased significantly from their previous position.

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Niraj Jalan, acting as the authorized signatory on behalf of himself and other promoter group members, submitted the required documentation to both BSE Ltd and The Calcutta Stock Exchange Ltd on January 31, 2026.

The promoter group includes Bhagwati Prasad Jalan, Bhagwati Prasad Jalan & Sons HUF, Niraj Jalan, and Pankaj Jalan, all of whom are classified as promoters of the company. The transaction represents a strategic consolidation of shareholding within the promoter group through off-market transfers.