Damodar Industries Limited has informed the BSE Limited and the National Stock Exchange of India Limited (NSE) about the acquisition of 27,90,000 equity shares by the promoters of the company. The disclosure was made pursuant to Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and Regulation 29(1) and 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Details of the Acquisition

The company received formal intimation from the promoters, namely:

• Mrs. Manju Biyani: Acquired 9,40,000 shares, constituting 4.03% of the paid-up share capital.

• Mr. Abhishek Biyani: Acquired 1,50,000 shares, constituting 0.64% of the paid-up share capital.

• Mr. Arunkumar Biyani: Acquired 16,00,000 shares, constituting 6.87% of the paid-up share capital.

The cumulative acquisition of 27,90,000 shares increases the collective promoter stake by 11.54% in Damodar Industries Limited.

Regulatory Compliance and Disclosures

The intimation regarding the acquisition has been submitted under:

• Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – Mandates disclosures by promoters and connected persons upon acquisition of shares.

• Regulation 29(1) and 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 – Requires disclosures for substantial acquisition of shares, including percentage increase in promoter holding.

The company has filed the necessary disclosures with both the BSE Limited and NSE, adhering to regulatory requirements and ensuring transparency for investors.

Impact on Promoter Shareholding

The acquisition has increased the overall promoter stake in the company, enhancing their control over the company’s decision-making and operational strategy. The exact post-acquisition shareholding details will be reflected in subsequent regulatory filings, ensuring compliance with SEBI norms.

Promoter Profiles

• Mrs. Manju Biyani: A key promoter and stakeholder in Damodar Industries Limited, actively involved in the strategic growth of the company.

• Mr. Abhishek Biyani: Associated with the company's operations, focusing on business development and corporate governance.

• Mr. Arunkumar Biyani: A senior promoter overseeing key business functions and driving the company’s vision forward.

About Damodar Industries Limited

Damodar Industries Limited is a prominent name in the textile manufacturing industry, known for producing high-quality yarns and textiles catering to domestic and international markets. The company specializes in blended yarns, fancy yarns, and specialty products, contributing significantly to India’s textile exports.

With state-of-the-art manufacturing facilities located in MIDC, Amravati, Maharashtra, and corporate operations based out of Worli, Mumbai, the company has consistently delivered value to its stakeholders through operational efficiency and product innovation.

Implications for the Company

The acquisition by the promoters reflects confidence in the company’s future growth and stability. An increase in promoter holding often signals a positive sentiment to the market and may enhance investor confidence. The promoters’ continued involvement ensures that the company’s long-term strategic direction remains aligned with shareholder interests.

Compliance with SEBI Guidelines

Damodar Industries Limited has ensured full compliance with SEBI regulations by disclosing the necessary information within the prescribed timeline. The filings have been submitted to:

• BSE Limited (Scrip Code: 521220)

• National Stock Exchange of India Limited (Symbol: DAMODARIND)

Conclusion

The acquisition of 27,90,000 shares by the promoters of Damodar Industries Limited demonstrates a strong belief in the company’s growth potential. The company has complied with all regulatory norms by submitting timely disclosures under SEBI guidelines. As the promoters continue to increase their stake, the company is expected to further strengthen its position in the textile industry and enhance shareholder value.

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