NewsStocksSanjay Prakash Mangal Boosts Stake in Hindprakash Industries to 19.55% via Off-Market GiftSanjay Prakash Mangal Boosts Stake in Hindprakash Industries to 19.55% via Off-Market Gift
Sanjay Prakash Mangal has significantly increased his stake in Hindprakash Industries Limited through an off-market gift transaction on September 26, 2024. He acquired 10,24,434 equity shares, raising his shareholding from 12,08,358 shares (10.58%) to 22,32,590 shares (19.55%). This represents an 8.97 percentage point increase in his ownership. The company has a total of 1,14,24,110 equity shares with a face value of Rs. 10 each.
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Hindprakash Industries Limited , a company listed on both BSE Limited and National Stock Exchange of India, has witnessed a significant change in its shareholding pattern. Sanjay Prakash Mangal, a key shareholder, has substantially increased his stake in the company through an off-market gift transaction.
Transaction Details
| Aspect | Details |
|---|---|
| Date of Transaction | September 26, 2024 |
| Type of Transaction | Off-market gift |
| Shares Acquired | 10,24,434 equity shares |
| Previous Shareholding | 12,08,358 shares (10.58%) |
| New Shareholding | 22,32,590 shares (19.55%) |
| Increase in Shareholding | 8.97 percentage points |
Company Overview
| Parameter | Value |
|---|---|
| Total Equity Share Capital | Rs. 11,42,41,100 |
| Total Number of Equity Shares | 1,14,24,110 |
| Face Value per Share | Rs. 10 |
The substantial acquisition of shares by Sanjay Prakash Mangal has nearly doubled his stake in Hindprakash Industries Limited. This transaction has increased his shareholding from 10.58% to 19.55% of the company's total voting capital, representing a significant rise in his ownership position.
Regulatory Compliance
The transaction was disclosed in accordance with the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares. These regulations ensure transparency in the stock market by requiring the disclosure of significant changes in shareholding patterns of listed companies.
This off-market gift transaction highlights the importance of monitoring insider transactions and shareholding changes, as they can provide insights into the ownership structure of a company. However, investors should conduct their own research and consider multiple factors before making investment decisions based on such transactions.
Historical Stock Returns for Hindprakash Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.86% | +2.61% | +5.97% | +13.08% | -0.73% | +200.87% |
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