Malaxmi Climate Resilience Platform Private Limited has announced the acquisition of 2,87,99,990 equity shares, representing 52.56% of the total share capital of Chiraharit Limited. The transaction, valued at Rs. 8 per share, is an off-market transfer from Mrs. Tejaswini Yarlagadda, a promoter of Chiraharit Limited. This move is intended for consolidating promoter shareholding under a corporate entity to facilitate corporate structuring and long-term holding.
Malaxmi Climate Resilience Acquires Significant Stake
Malaxmi Climate Resilience Platform Private Limited has officially disclosed its acquisition of 2,87,99,990 equity shares in Chiraharit Limited. This significant transaction represents 52.56% of Chiraharit Limited’s total share capital, making Malaxmi Climate Resilience a majority stakeholder. The acquisition price was set at Rs. 8/- (Rupees Eight Only) per equity share.
Strategic Rationale for the Transaction
The primary objective behind this proposed transfer is to consolidate the promoter’s shareholding in Chiraharit Limited under a single corporate entity, Malaxmi Climate Resilience Platform Private Limited. This strategic move is aimed at enhancing corporate structuring efficiency and ensuring a more streamlined long-term holding strategy for the company’s equity. Mrs. Tejaswini Yarlagadda, a promoter of Chiraharit Limited, acted as the transferor in this off-market transaction.
Transaction Details and Exemptions
This acquisition falls under the exemption provided by Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total number of shares to be acquired amounts to 2,87,99,990, representing 52.56% of Chiraharit Limited’s share capital. The proposed acquisition date is any time after 4 working days from the date of the intimation, specifically on or after Friday, September 07, 2026. The equity shares of Chiraharit Limited are frequently traded on the BSE, with the volume-weighted average market price for the 60 trading days preceding the notice being Rs. 8.65/- per share.
Shareholding Changes
Prior to this transaction, Malaxmi Climate Resilience Platform Private Limited held no shares in Chiraharit Limited. Following the acquisition, Malaxmi Climate Resilience will hold 2,87,99,990 shares, constituting 52.56% of the total share capital. The seller, Mrs. Tejaswini Yarlagadda, will have no shares remaining in Chiraharit Limited post-transaction.
Source: BSE
