Keshav Power Limited has disclosed transactions involving the acquisition and transfer of shares in Dalmia Bharat Limited (DBL) by entities within the Promoter Group. The transfer involved the sale of 7,21,000 shares by Keshav Power Limited and subsequent acquisition by Rama Investment Company Private Limited and Dalmia Bharat Refractories Limited via on-market inter-se transfers. Post-transaction, the total holding of the Promoter Group remains at 55.84% of the total share capital of DBL.
Disclosure of Shareholding Changes in Dalmia Bharat Limited
This disclosure pertains to transactions involving the substantial acquisition and transfer of shares in Dalmia Bharat Limited (DBL) by Keshav Power Limited and other Persons Acting in Concert (PAC) belonging to the Promoter Group, as per the stipulated regulations.
Pre-Acquisition Shareholding Status (Before March 2026)
Prior to the transactions detailed, the total shareholding of the acquirer group in DBL was significant:
- Keshav Power Limited held 6,83,15,720 shares, representing 36.42% of the total voting capital.
- PAC entities held 3,64,15,828 shares, representing 19.42% of the total voting capital.
- The combined total holding across shares carrying voting rights stood at 10,47,31,548 shares, equating to 55.84% of the total capital.
Details of Acquisition/Sale Transactions
The recent activity involved an on-market inter-se transfer among members of the Promoter Group (executed via Block Deals) on March 24th and 25th, 2026:
- Keshav Power Limited acted as the seller, transferring 7,21,000 shares (0.38%).
- Rama Investment Company Private Limited acquired 3,88,000 shares (0.21%).
- Dalmia Bharat Refractories Limited acquired 3,33,000 shares (0.17%).
The total net change in holding via these transfers amounted to 0.00%, confirming that the transfers were internal movements within the existing promoter structure.
Post-Acquisition Shareholding Status
Following the completion of these transfers, the aggregate shareholding structure of the Promoter Group in DBL remains unchanged:
- Keshav Power Limited now holds 6,75,94,720 shares, representing 36.04%.
- PAC entities (including the two acquiring entities) collectively hold 3,71,36,828 shares, representing 19.80%.
- The Total (a+b+c+d) holding remains constant at 55.84% of the total share capital.
Capital Structure Context
The total equity share capital / total voting capital of Dalmia Bharat Limited remained constant throughout the transaction at 18,75,65,953 Equity Shares of Rs. 2/- each, with the total diluted share/voting capital also remaining the same.
Signatories
This disclosure was made on behalf of Keshav Power Limited by Kunal Mehta (Director), authorized in New Delhi on 26.03.2026.
Source: BSE
