Suyog Gurbaxani Funicular Ropeways Limited has announced the transfer of 4,97,600 equity shares from promoter Arvind Lature to Sarvatra Finance Private Limited through an off-market transaction. The transfer was executed between February 17-18, 2026, and disclosed to BSE Limited on February 23, 2026, in compliance with Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeover Regulations, 2011.

Transaction Details

The share transfer represents a strategic move within the promoter group, as Sarvatra Finance Private Limited is owned and controlled by the same promoter, Arvind Lature. This makes the transaction an inter-group transfer rather than a disposal to external parties.

Shareholding Position

Prior to this acquisition, Sarvatra Finance Private Limited held no shares in Suyog Gurbaxani Funicular Ropeways Limited. Following the completion of the off-market transfer, the entity now holds 4,97,600 equity shares, representing 2% of the company's total share capital.

Regulatory Compliance

The transaction was disclosed in accordance with SEBI's SAST Regulations, which mandate disclosure of substantial acquisitions or disposals of shares. The company filed the necessary documentation with BSE Limited, where its shares are listed under the scrip code 543391 and symbol SGFRL.

Corporate Structure Impact

Since both the transferor and the ultimate controller of the transferee are the same person, this transaction represents a restructuring within the promoter group rather than a change in overall promoter control. The transfer may be part of a broader corporate restructuring strategy or portfolio management within the promoter's business interests.

Suyog Gurbaxani Funicular Ropeways Limited held a Board of Directors meeting on February 06, 2026, addressing significant corporate governance and compliance matters. The meeting, which commenced at 11:30 a.m. and concluded at 1:00 p.m., focused on share reclassification and regulatory compliance issues.

Share Reclassification Approval

The board considered and approved filing an application with the relevant stock exchange for obtaining a No Objection Certificate regarding a reclassification request. The request was submitted by Mr. Somnath Gurushantappa Lature, a promoter group member, on February 05, 2026.

BSE Fine and Compliance Issues

The board took note of a fine imposed by BSE Limited for regulatory non-compliance. The company received notification from BSE Limited on December 16, 2025, regarding penalties under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Remedial Actions

Following the imposition of the fine, Suyog Gurbaxani Funicular Ropeways Limited took immediate corrective measures. The company rectified the non-compliances related to Regulation 33 and Regulation 23(9) of the SEBI Listing Obligations and Disclosure Requirements Regulations. The applicable fine was paid to the stock exchange within the stipulated timeframe, demonstrating the company's commitment to regulatory compliance.

Financial Impact Assessment

According to the company's disclosure, there is no material impact on financial or operational activities except for the penalty amount of ₹23,600 inclusive of GST. This minimal financial impact suggests that while the compliance issue required attention, it does not significantly affect the company's overall business operations or financial position.

The meeting was concluded with proper documentation and disclosure requirements fulfilled under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary and Compliance Officer Ameya Dhananjay Bodas oversaw the meeting proceedings and subsequent regulatory filings.