Mahaveer Infoway Limited has reported a significant off-market share transaction between two of its promoters. The company disclosed that Mrs. Badam Bai Kothari sold 2,14,700 equity shares, representing a 3.89% stake in the company, to Mr. Ashok Kumar Jain for a total consideration of Rs. 21.47 lakh.

Transaction Details

The off-market transfer, which took place on September 4, 2025, has resulted in a reshuffling of the promoter shareholding structure:

• Mrs. Badam Bai Kothari's shareholding reduced from 2,14,700 shares (3.89%) to zero.
• Mr. Ashok Kumar Jain's holding increased from 15,43,328 shares (28.01%) to 17,58,028 shares (31.91%).

Regulatory Compliance

Both parties involved in the transaction have filed the required disclosures under the Securities and Exchange Board of India (SEBI) regulations. These include:

1. Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
2. Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015

Company Overview

Mahaveer Infoway Limited's total equity share capital remains unchanged at 55,09,000 shares following this transaction.

Market Impact

While this transaction represents an internal transfer between promoters, it signifies a consolidation of ownership within the promoter group. Mr. Ashok Kumar Jain now holds a more substantial stake in the company, potentially influencing future decision-making processes.

Investors and market participants may want to take note of this change in the promoter shareholding pattern, as it could have implications for the company's governance and strategic direction going forward.

The company has duly informed the stock exchange about this transaction, ensuring transparency and compliance with regulatory requirements.

Mahaveer Infoway Limited , a Hyderabad-based IT and consultancy firm, has reported financial results for the quarter, alongside significant board changes and strategic business decisions.

Financial Performance

The company's unaudited financial results for the quarter show:

Board and Management Changes

The Board of Directors has approved several key appointments and resignations:

1. Mr. Sachin Jain has been appointed as an Additional Director designated as Executive Director, effective July 29. His appointment is subject to shareholder approval for a term of 5 years.

2. Mr. Vijay Jain has resigned from his position as Director, citing professional responsibilities and personal reasons. His resignation is effective from July 29.

3. Mr. Ashitosh Kothari has been appointed as the new Chief Financial Officer (CFO) of the company.

Strategic Business Decisions

The company has announced several strategic decisions aimed at reshaping its business focus:

1. Mahaveer Infoway plans to focus on the import and distributorship of electronic items, as outlined in Clause III (a) (3) of its Memorandum of Association.

2. The Board has approved the sale of the company's partnership interest in Mahaveer Skyscrapers LLP.

3. The borrowing powers of the company have been enhanced to a limit of Rs. 100 crores under Section 180(1)(c) of the Companies Act, 2013.

4. Approval has been granted for increasing Managing Director Ashok Kumar Jain's remuneration, subject to shareholder approval.

Annual General Meeting

The Annual General Meeting of Mahaveer Infoway Limited has been scheduled for August 29, where these changes and strategic decisions will be presented to the shareholders for their consideration and approval.

The company's shift towards electronic item distribution and the reported financial performance indicate a potential turnaround strategy. Investors and stakeholders will be keenly watching how these changes impact Mahaveer Infoway's future growth and market position in the coming quarters.