Mr. Jaspalsingh Prehlad Singh Chandock, along with his Persons Acting in Concert (PACs), has reported a substantial acquisition of voting rights in Balu Forge Industries Limited. The filing, dated March 12, 2026, details a Preferential Allotment that increased the acquirer group’s total shareholding to 54.34% of the total voting capital. This action followed an allotment on March 9, 2026, which also saw the target company’s total equity capital increase.
Regulatory Disclosure: Substantial Acquisition
This disclosure concerns the mandatory filing under Regulation 29(2) related to the Substantial Acquisition of Shares and Takeovers, submitted by Mr. Jaspalsingh Prehlad Singh Chandock (the Acquirer) and his Persons Acting in Concert (PACs), which include Mr. Trimaan Jaspalsingh Chandock and Mr. Jaikaran Jaspalsingh Chandock. The target company is Balu Forge Industries Limited, whose shares are listed on the BSE Limited. The acquirer group confirms it belongs to the Promoter/Promoter group of the company.
Shareholding Before Acquisition
Prior to the transaction under consideration, the total shareholding of the acquirer group in the company’s shares carrying voting rights stood at 53.76% (representing 6,55,45,074 shares). The breakdown of this initial holding was:
- Mr. Jaspalsingh Prehlad Singh Chandock: 50.75% (6,04,59,024 shares)
- Mr. Trimaan Jaspalsingh Chandock: 0.90% (10,75,900 shares)
- Mr. Jaikaran Jaspalsingh Chandock: 2.11% (25,10,150 shares)
Details of Transaction
The transaction involved the acquisition of 15,00,000 shares, which constituted 1.24% of the total capital. The mode of acquisition was reported as a Preferential Allotment. The official date of allotment for these new instruments was March 9, 2026. No acquisition of Warrants or convertible securities was reported in this specific transaction set.
Shareholding Post-Acquisition
Following the acquisition, the total holding of the acquirer group in shares carrying voting rights increased to 54.34% (6,55,45,074 shares + 15,00,000 acquired shares). The post-acquisition details are as follows:
- Mr. Jaspalsingh Prehlad Singh Chandock: 50.12%
- Mr. Trimaan Jaspalsingh Chandock: 2.14%
- Mr. Jaikaran Jaspalsingh Chandock: 2.08%
Changes in Total Capital Structure
The acquisition resulted in an increase in both the equity share capital and the total diluted capital base of Balu Forge Industries Limited. Before the said acquisition, the total voting capital was 11,91,21,900 Equity Shares. After the acquisition, this total capital base expanded to 12,13,91,900 Equity Shares of Rs. 10 each, reflecting the issuance via Preferential Allotment.
Source: BSE
