Tandhan Industries Limited (formerly known as Sanmitra Commercial Limited) has received a formal request from its promoter Mr. Prakash Bhoorchand Shah for reclassification from the 'Promoter and Promoter Group' category to the 'Public' category of shareholders. The request was submitted on February 28, 2026, in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholding Details

The company has disclosed the current shareholding position of the promoter seeking reclassification:

Regulatory Compliance Confirmations

In his formal request letter, Mr. Prakash Bhoorchand Shah has provided comprehensive confirmations and undertakings as required under SEBI regulations:

• Does not hold more than 10% of total voting rights in the company
• Does not exercise control, directly or indirectly, over company affairs
• Has no special rights through formal or informal arrangements, including shareholder agreements
• Is not represented on the Board of Directors as a director or nominee director
• Does not act as Key Managerial Personnel in the company
• Is not classified as a 'wilful defaulter' as per RBI guidelines
• Is not a fugitive economic offender
• Has no pending regulatory actions that would prohibit reclassification

Regulatory Framework

The proposed reclassification is being processed under Regulation 31A (10) of the SEBI LODR Regulations. The company has noted that the provisions of clause (a) of sub-regulation (3) and sub-regulation (8) of Regulation 31A shall not apply in this case. The request will require approval from the company's Board of Directors, shareholders, and the stock exchanges as mandated under the regulatory framework.

Next Steps

Mr. Shah has requested the company to place this reclassification request before the Board of Directors and subsequently before the shareholders for approval. The company will also need to seek approval from the stock exchanges as part of the reclassification process. The promoter has undertaken to provide any additional information or documents that may be required during the approval process.

Sanmitra Commercial Limited, now known as Tandhan Industries Limited, has announced a substantial acquisition disclosure under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition involves promoter group members led by Ankit Jalan and several persons acting in concert (PACs), who have increased their collective stake in the company through an off-market share purchase.

Acquisition Details

The transaction involved the acquisition of 4,74,350 shares, representing 0.95% of the total share capital and 0.82% of the diluted share capital. The acquisition was completed on February 24, 2026, through an off-market sale conducted in accordance with a Share Purchase Agreement dated August 29, 2025.

Pre and Post-Acquisition Holdings

Before the acquisition, the promoter group collectively held 3,96,91,799 shares, representing 64.02% of total share capital and 68.91% of diluted share capital. Post-acquisition, their combined holding increased to 4,01,66,149 shares, representing 64.98% of total share capital and 69.74% of diluted share capital.

Individual Holdings Post-Acquisition

Company Capital Structure

The acquisition has resulted in changes to the company's capital structure. Prior to the transaction, the equity share capital stood at Rs. 1,10,00,000 divided into 11,00,000 equity shares of Rs. 10 each. Post-acquisition, the equity share capital increased significantly to Rs. 49,77,25,000 divided into 4,97,72,500 equity shares of Rs. 10 each.

The total diluted share capital, accounting for outstanding convertible securities and warrants, stands at Rs. 57,59,75,000 divided into 5,75,97,500 equity shares of Rs. 10 each. Notably, Divyanshi Jalan holds 78,25,000 warrants or convertible securities, representing 13.59% of the diluted share capital.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's shares are listed on BSE Limited, and all acquirers belong to the promoter/promoter group category. The filing was submitted by Ankit Jalan as the primary acquirer on behalf of the entire promoter group and persons acting in concert.