Glen Industries Ltd

Glen Industries Ltd – Trading Window closed from 1st October, 2026 till 48 hours after the announcement to the Stock Exchanges of the Unaudited Standalone and Consolidated Financial Results of the Company for the year half ended 30th September, 2026.

Newspaper publication

• Newspaper publication intimation issued for Glen Industries Ltd under SEBI LODR Regulation 30.
• Publication is in English Business Standard dated 28 August 2026 and will be uploaded to the company's website.

Acquisition details

• Acquisitions executed on Aug 26 and Aug 27, 2026.
• Total cash consideration ₹2,087,544 for 16,800 shares.
• Promoter group stake rose from 74.23% to 74.30%.
• Related-party transaction; Lalit Agrawal (HUF) from promoter group purchased shares.
• Target background not disclosed; country of presence: India.
• Purpose: promote stake consolidation; rationale not disclosed.
• Industry/sector: not disclosed.
• Regulatory approvals: minimum public shareholding complied; no other approvals stated.
• Timeline: deals completed Aug 26-27, 2026.
• Size/scale: not disclosed.

Acquisition details

• Target entity: Glen Industries Ltd; line of business and country of presence not disclosed.
• Acquirer: Lalit Agrawal (HUF) from promoter group; acquired 4,800 shares in two tranches.
• Date of acquisitions: Aug 24 and Aug 25, 2026.
• Aggregate consideration: ₹5,67,900 for 4,800 shares.
• Price per share: ₹117.75 for 3,600 shares; ₹120 for 1,200 shares.
• Promoter stake after: 74.23% up from 74.21%.
• Regulatory approvals: compliance with minimum public shareholding; no other approvals specified.
• Background of target: background not disclosed.
• Form of consideration: cash.

AGM details

• AGM held on 20 August 2026 at 12:00 IST via VC/OAVM.

Resolutions and outcomes

• All ordinary and special AGM businesses approved with requisite majority.
• Voting results published on company website and NSDL.

Target overview

• Target: Glen Industries Ltd; description not disclosed in filing.

Promoter acquisitions

• Promoter group bought 6,000 shares on Aug 20, 2026 at ₹121.50 each.
• Total consideration: ₹7,29,000.
• Promoter group bought 3,600 shares on Aug 21, 2026 at ₹121.50 each.
• Total consideration: ₹4,37,400.

Holding impact

• Aggregate promoter and promoter group stake rose from 74.17% to 74.21%.

Regulatory & approvals

• Compliance with minimum public shareholding requirements observed.
• Regulatory approvals: not disclosed.

Timeline

• Acquisitions completed on Aug 20 and Aug 21, 2026.

Target background

• Target products/services not disclosed.
• Incorporation date not disclosed.
• Recent turnover history not disclosed.

Appointment of Joint Statutory Auditor

• Type: Appointment of Joint Statutory Auditor.
• Auditor: M/s Tosniwal & Associates, Chartered Accountants.
• Effective date and term: August 20, 2026; five-year term until AGM 24 in 2031.
• Reason: appointment by the members on the Board's recommendation.
• Profile: Chartered Accountants firm registered with ICAI; offers statutory/internal audits, taxation, GST, and advisory services.
• Relationships with other directors: N.A.

AGM outcomes

• 19th AGM held on 20 August 2026 via VC/OAVM.
• Remote e-voting ran Aug 17–19, 2026; Scrutiniser appointed.
• Audited standalone and consolidated financial statements for year ended 31 March 2026 approved.
• Nikhil Agrawal appointed director retiring by rotation.
• Tosniwal & Associates ratified as statutory auditors to fill casual vacancy.
• Tosniwal & Associates appointed as statutory auditors for five-year term.
• Remuneration revised for Lalit Agrawal, Whole-Time Director.
• Remuneration approved for Nikhil Agrawal, Managing Director.
• Remuneration revised for Niyati Seksaria, Whole-Time Director.
• All resolutions passed with requisite majority.

Promoter stake changes

• Target: Glen Industries Ltd, Indian company (line of business not disclosed).
• Promoter group stake increased to 74.17% from 73.97%.
• Promoter Lalit Agrawal (HUF) acquired shares from public shareholders.
• First tranche: 9,600 shares at ₹118.17 each on Aug 18, 2026.
• Second tranche: 38,400 shares at ₹117.76 each on Aug 19, 2026.
• Total consideration: ₹56,56,632.
• Form of consideration: cash at prevailing market price.
• Regulatory approvals: not disclosed.
• Rationale: consolidate promoter stake respecting minimum public shareholding norms.
• Timeline: acquisitions completed by Aug 19, 2026.
• Background: not disclosed.

Fund-raising and deviation status

• Mode of fund-raising: IPO.
• Monitoring agency confirms nil deviation and nil range of deviation.

IPO proceeds and utilisation

• Net proceeds available after IPO expenses; exact amounts redacted.
• Utilisation progressed with partial use; no deviation observed.

Monitoring and audit statements

• Monitoring report provided by an external agency; not an audit.
• Report relies on management data and documents.

Progress on objects and timeline

• Progress reported on manufacturing facility and general corporate purposes.
• Implementation timeline extended within permissible window and approved by the board.

Utilisation status and unutilised funds

• Some funds utilised; remaining unutilised funds kept as fixed deposits.
• No deviation; unutilised funds maintain planned deployment.