Mangalam Cement has announced that the Rajasthan government's Department of Mines and Petroleum has rejected its bid for the Nimana Duniya Extension limestone block through an order dated December 31, 2024. The rejection represents a significant setback for the company's mineral acquisition plans, particularly given its status as the preferred bidder for several months.

Bid Timeline and Government Decision

The company had been declared the preferred bidder on July 8, 2024, with a competitive final price offer of 35.05% for the limestone block. The detailed timeline and specifications are as follows:

Impact on Company Operations

The rejection comes after nearly six months of being the preferred bidder, highlighting the uncertainty in the mineral block allocation process. Limestone is a crucial raw material for cement manufacturing, and securing mining rights for limestone blocks is essential for cement companies to maintain their production capabilities and cost competitiveness.

Regulatory Context

The Rajasthan Department of Mines and Petroleum's decision to reject the bid, despite Mangalam Cement maintaining preferred bidder status for an extended period, underscores the complex regulatory environment surrounding mineral block allocations in India. The state government's authority to make final decisions on mining rights allocation remains a critical factor for companies seeking to expand their raw material base.

This development highlights the challenges faced by cement manufacturers in securing long-term access to limestone reserves, which are fundamental to their operational sustainability and growth strategies in the competitive cement industry.

Mangalam Cement Limited has announced an inter-se transfer of equity shares between its promoters, involving the transfer of 11,017 shares as a gift transaction. The company disclosed this development under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, maintaining compliance with regulatory requirements for promoter shareholding changes.

Transfer Details

The share transfer was executed on December 18, 2025, involving Anshuman Vikram Jalan as the transferor and two family members as transferees. The transaction was structured as a gift between promoter group members, representing an internal reorganization of shareholding within the promoter family.

Share Distribution

The 11,017 equity shares were distributed between the two transferees in nearly equal proportions. The allocation demonstrates a balanced distribution of shareholding within the promoter family structure.

Regulatory Compliance

Mangalam Cement Limited filed the necessary disclosures with stock exchanges under Regulation 10(6) of SEBI SAST regulations. The company submitted the required documentation to both NSE and BSE, ensuring full transparency in the promoter shareholding changes.

Market Impact

The transferred shares represent 0.02% of Mangalam Cement's diluted share capital, indicating a minimal impact on the overall shareholding structure. Since the transaction involved no monetary consideration and was executed as a gift between promoter family members, no pricing details were applicable to this transfer.

The disclosure was signed by the respective transferees, with Anshuman Vikram Jalan acting as the natural guardian for Master Avayaan Vikram Jalan and as the constituted attorney for Vaishnavi Jalan. The documentation was completed in Kolkata on December 18, 2025, ensuring proper legal formalities were observed throughout the transfer process.