Malaxmi Climate Resilience Platform Private Limited has announced the acquisition of 2,87,99,990 Equity Shares, representing 52.56% of the equity share capital of Chiraharit Limited. This significant acquisition, valued at ₹1 per share, was made from Dr. Tejaswini Yarlagadda. The transaction is exempted from making an open offer under specific SEBI regulations. This move establishes Malaxmi as the promoter of Chiraharit Limited.
Malaxmi Acquires Controlling Stake in Chiraharit Limited
Malaxmi Climate Resilience Platform Private Limited has successfully acquired a substantial 52.56% stake in Chiraharit Limited, thereby becoming the promoter of the target company. The acquisition involved 2,87,99,990 Equity Shares, each fully paid up with a face value of Re. 1/-. The shares were purchased from Dr. Tejaswini Yarlagadda, who was the previous promoter of Chiraharit Limited.
Transaction Details and Regulatory Compliance
The transaction took place on September 10, 2026, with the shares acquired at a price of ₹8/- per equity share. This acquisition is undertaken pursuant to an exemption provided under Regulation 10(1)(a)(iii) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Consequently, an open offer was not required for this transaction.
Shareholding Post-Acquisition
Prior to the transaction, Malaxmi Climate Resilience Platform Private Limited held no shares in Chiraharit Limited. Post-acquisition, Malaxmi now holds 2,87,99,990 Equity Shares, accounting for 52.56% of the total equity share capital. Conversely, Dr. Tejaswini Yarlagadda’s shareholding has reduced to Nil.
The disclosure regarding this acquisition, as required under Regulation 10(6) of the SEBI (SAST) Regulations, 2011, has been filed with the Bombay Stock Exchange (BSE) Limited on August 31, 2026.
Source: BSE
