NewsOrders & DealsRakesh Kumar Bansal Acquires 14.03% Stake in Grand Foundry Limited Through Open OfferRakesh Kumar Bansal Acquires 14.03% Stake in Grand Foundry Limited Through Open Offer
Rakesh Kumar Bansal acquired 4,270,072 equity shares (14.03%) of Grand Foundry Limited through an open offer completed on December 31, 2025. This acquisition increased his total holding from 0.004% to 14.04%, positioning him as a promoter of the NSE and BSE-listed steel company. The transaction was executed through a share purchase agreement and complied with SEBI's substantial acquisition regulations.
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Rakesh Kumar Bansal has completed a substantial acquisition of shares in Grand Foundry Limited, acquiring 4,270,072 equity shares representing 14.03% of the company's paid-up equity share capital through an open offer transaction. The acquisition was completed on December 31, 2025, and disclosed to stock exchanges on January 1, 2026, under SEBI's Substantial Acquisition of Shares and Takeovers Regulations.
Acquisition Details
The transaction significantly transformed Bansal's position in the company from a minimal stakeholder to a major promoter. The acquisition details show a substantial increase in his shareholding:
| Parameter | Before Acquisition | Acquisition | After Acquisition |
|---|---|---|---|
| Shares Held | 1,380 | 4,270,072 | 4,271,452 |
| Percentage Holding | 0.004% | 14.03% | 14.04% |
| Status | Minor Shareholder | - | Promoter |
The acquisition was executed through two methods: 4,270,072 equity shares were acquired through a share purchase agreement, while the existing 1,380 shares were acquired through the open offer process.
Company Structure and Listing
Grand Foundry Limited operates with an equity share capital of ₹12.17 crores, divided into 30,430,000 equity shares of ₹4.00 each. The company trades on both major Indian stock exchanges under the symbol GFSTEELS, with scrip code 513343 on BSE.
| Exchange Details | Information |
|---|---|
| NSE Symbol | GFSTEELS |
| BSE Scrip Code | 513343 |
| Total Equity Shares | 30,430,000 |
| Face Value per Share | ₹4.00 |
| Paid-up Capital | ₹12.17 crores |
Regulatory Compliance
The acquisition was conducted in full compliance with SEBI regulations, with Bansal filing the mandatory disclosure under Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure confirms that Bansal will become a promoter of Grand Foundry Limited through this open offer.
The transaction involved no voting rights other than equity shares, warrants, convertible securities, or encumbrances. All acquired shares are regular equity shares with standard voting rights, maintaining the company's existing capital structure without dilution.
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