A group of major stakeholders, including Bhupendra G. Sanghavi and Dhirendra B. Sanghavi, has disclosed a reduction in their equity stake in Sunflag Iron & Steel Co. Ltd. Following a series of open market transactions between October 20, 2016, and May 4, 2026, the group’s total shareholding decreased from 11.8302% to 8.9810%. This transaction reflects a net disposal of 51,34,823 shares by the entities involved.
Transaction Details
The entity, comprising a group of related individuals and their respective Hindu Undivided Families (HUF), carried out the divestment of shares via the open market. The selling period spanned nearly a decade, beginning on October 20, 2016, and concluding on May 4, 2026. During this timeframe, a total of 51,34,823 shares were sold.
Impact on Shareholding
Prior to these transactions, the group held 2,13,20,273 shares, representing an 11.8302% stake in the company. Post-disposal, the group’s holding in Sunflag Iron & Steel Co. Ltd. stands at 1,61,85,450 shares, which equates to 8.9810% of the total paid-up equity share capital. The total equity share capital of the target company remains unchanged at Rs. 180,21,94,480, divided into 18,02,19,448 shares of Rs. 10 each.
Source: BSE
