Usha Martin , a prominent player in the wire rope manufacturing industry, recently witnessed a change in its promoter shareholding. Stuti Jhawar, identified as a promoter of the company, has increased her stake through an open market transaction.

Transaction Details

Stuti Jhawar acquired 10,000 equity shares of Usha Martin through open market transactions on the National Stock Exchange (NSE). This purchase has resulted in an increase in Jhawar's total shareholding from 12,50,000 shares to 12,60,000 shares.

Shareholding Impact

Despite the acquisition, Jhawar's overall stake in the company remains unchanged at 0.41% of the total voting capital. This suggests that the purchase was relatively small compared to the company's total outstanding shares.

Regulatory Compliance

The transaction was disclosed in compliance with the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares and takeovers. Jhawar filed the necessary disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Company Listing

Usha Martin maintains a presence on multiple stock exchanges. The company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Additionally, its Global Depositary Receipts (GDRs) are listed on the Luxembourg Stock Exchange, indicating the company's international market presence.

Market Activity

Interestingly, on the same day as Jhawar's share acquisition, Usha Martin received a query from the BSE regarding a significant increase in the trading volume of its securities. In response, the company affirmed its compliance with regulatory disclosure requirements and stated that there was no pending information or announcement that could have influenced the price or volume behavior of its shares.

Company Statement

Manish Agarwal, Company Secretary & Compliance Officer of Usha Martin, issued a statement saying, "We have been disclosing all the necessary information/disclosures to the Exchange in accordance with the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, from time to time. To the best of our knowledge, there exist no pending information or announcement required to be disclosed by the Company which may have a bearing on the price/volume behaviour of our scrip."

This recent development highlights the ongoing interest of promoters in Usha Martin and underscores the company's commitment to transparency and regulatory compliance in its operations and shareholding patterns.

Usha Martin Limited , a prominent player in the wire rope manufacturing industry, witnessed a change in its promoter shareholding as Peterhouse Investments Limited reduced its stake in the company. The transaction, which took place on September 10, involved the sale of 150,000 equity shares through open market transactions on the National Stock Exchange (NSE).

Shareholding Impact

According to the disclosure made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Peterhouse Investments Limited's shareholding in Usha Martin has decreased from 4,450,000 shares (1.46% of the total share capital) to 4,300,000 shares (1.41%). This represents a reduction of 0.05% in the company's equity stake.

Promoter Group Holdings

Peterhouse Investments Limited, identified as part of the promoter/promoter group of Usha Martin, continues to maintain a significant presence in the company's ownership structure. In addition to its equity shareholding, Peterhouse Investments also holds 185,691 Global Depository Receipts (GDRs), which can be converted into 928,455 equity shares at the option of the holder.

Company Listing Details

Usha Martin's shares are listed on multiple exchanges, providing investors with various trading platforms:

Corporate Information

Peterhouse Investments Limited, registered in the British Virgin Islands with incorporation number 248779, maintains its administrative office in Guernsey. The company's affairs are managed by Trident Corporate Services (No.2) Limited.

Market Implications

While the sale represents a minor reduction in Peterhouse Investments' stake, it's worth noting that the overall equity share capital of Usha Martin Limited remains unchanged at 30,47,41,780 shares. The transaction highlights the dynamic nature of shareholding patterns in listed companies and the importance of transparency in reporting such changes to the market.

Investors and market participants may want to monitor any further changes in the promoter shareholding pattern of Usha Martin Limited, as these can sometimes indicate shifts in company strategy or market sentiment.