RajasthanGlobal Securities Pvt. Ltd. has significantly reduced its shareholding in Kasturi Metal Composite Limited, disposing of 3,92,000 shares representing 3.77% of the company's total share capital through open market transactions. The disposal was completed on February 3, 2026, and disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Overview

The share disposal represents a strategic reduction in RajasthanGlobal Securities' position in Kasturi Metal Composite Limited. The company had initially acquired a 7.54% stake through IPO allotment and has now reduced its holding by half through open market sales.

Shareholding Movement

The disposal has resulted in a substantial change in RajasthanGlobal Securities' ownership structure in Kasturi Metal Composite Limited. The transaction reduced the company's stake from 7.54% to 3.77%, representing exactly half of its original holding.

Company Structure

Kasturi Metal Composite Limited remains listed on the BSE-SME platform with its total equity share capital unchanged at 1,03,95,212 shares of Rs. 10 each. The company's total voting capital continues to be 1,03,95,212 shares following this disposal transaction. LRSD Securities Pvt. Ltd. continues to be identified as a Person Acting in Concert (PAC) with RajasthanGlobal Securities, while the seller does not belong to the promoter or promoter group of the target company.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates reporting when an entity disposes of shares or voting rights that cross specified thresholds. The open market disposal demonstrates RajasthanGlobal Securities' decision to partially monetize its investment in Kasturi Metal Composite Limited while maintaining a significant minority stake in the BSE-SME listed company.

Kasturi Metal Composite's initial public offering has concluded with an overall subscription of 1.05x, reflecting moderate investor participation across various categories. The subscription data reveals a mixed response from different investor segments, with institutional buyers showing stronger interest compared to retail and high net worth individual categories.

Subscription Performance by Category

The IPO witnessed varied participation levels across investor segments:

Investor Response Analysis

The Qualified Institutional Buyers category emerged as the strongest performer, achieving 3x subscription, indicating confidence from institutional investors. However, the retail segment managed only 0.23x subscription, suggesting limited participation from individual investors.

The Non-Institutional Buyers segment showed contrasting results, with bHNI category reaching 0.53x subscription while sHNI category recorded significantly lower participation at 0.05x. The employee category did not register any subscription during the offering period.

Overall Market Reception

With a total subscription of 1.05x, Kasturi Metal Composite's IPO managed to cross the subscription threshold, though the response remained modest. The institutional interest, as demonstrated by the QIB category's strong performance, provided the primary support for the overall subscription achievement.