Chandra Prakash Agrawal, Director & Promoter of Gallantt Ispat Limited, has reported an inter-se transfer of equity shares within the Promoter and Promoter Group. Executed on February 12, 2026, the transaction involved the transferor, Chandra Prakash Agrawal HUF, transferring 54,18,696 shares, representing 2.245% of the total capital. This internal arrangement aims to streamline the family’s assets, with no change in the overall promoter holding percentage post-transaction.
Intimation of Shareholding Change within Promoter Group
This disclosure, filed on February 16, 2026, follows up on a previous intimation concerning an intra-group transaction. Chandra Prakash Agrawal, acting on behalf of the Promoter and Promoter Group of Gallantt Ispat Limited (Target Company), has reported an inter-se transfer of existing equity shares. The transaction was finalized on February 12, 2026.
Rationale for the Transfer
The rationale provided for this off-market transfer is explicitly stated as a private arrangement intended to streamline the Agrawal family’s assets. This transfer does not constitute an acquisition from an external party but rather a reorganization among existing controlling entities.
Transaction Details (Inter-Se Transfer)
The acquisition relied upon the exemption provided under Regulation 10(1)(a)(iv) of SEBI SAST Regulations. The key details of the transfer are as follows:
- Transferor/Seller: Chandra Prakash Agrawal HUF
- Shares Transferred: 54,18,696 equity shares
- Percentage Transferred: 2.245% of the total capital.
- Consideration: Price details were marked as N.A., consistent with an inter-se transfer within the promoter unit.
Shareholding Before and After Transaction
The transaction resulted in a reallocation of shares among the acquirer/transferee entities within the Promoter Group, with the overall group holding remaining consolidated.
Pre-Transaction Holdings:
- Chandra Prakash Agrawal (Acquirer/Transferee): Held 8,90,78,023 shares, representing 36.919% of the total capital.
- Chandra Prakash Agrawal HUF (Seller/Transferor): Held 54,18,696 shares, representing 2.245%.
Post-Transaction Holdings:
- Chandra Prakash Agrawal (Acquirer/Transferee): Post-transfer holding increased to 9,44,96,719 shares, reflecting 39.165% of the total capital.
- Chandra Prakash Agrawal HUF (Seller/Transferor): Post-transfer holding reduced to 0 shares (0.000%).
The filing confirms that the transferor entity’s shareholding was entirely transferred to the designated acquirer entity within the group, resulting in a net positive change for Chandra Prakash Agrawal individually.
Source: BSE
