Himadri Speciality Chemical discloses PAC share sale reducing stake to 6.25%

What Himadri Speciality Chemical announced

On 2 July 2026, Himadri Speciality Chemical Ltd (BSE: 500184) filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing reports a change in shareholding of a Persons Acting in Concert (PAC) comprising Mahabir Prasad Agarwal and a group of related entities. The PAC sold a substantial block of shares, reducing its overall stake in the company.

The filing lists 18 entities that form the PAC, including individual family members, family trusts, and several private limited companies. The disclosure confirms that the PAC does not belong to the promoter group of Himadri Speciality Chemical.

Details of the share disposal

The PAC initially held 4,14,11,345 shares, equivalent to 8.21% of the diluted share capital. Between March 2025 and July 2026, it sold 99 lakh shares, bringing its holding down to 3,15,11,345 shares, or 6.25% of the diluted capital (total diluted shares: 50,46,34,543). No new shares were issued; the total equity share capital remained unchanged at 50,45,41,599 shares.

Mode and timeline of the transaction

The filing specifies that the disposal was carried out through open‑market sales and inter‑se transfers. No public issue, rights issue, or preferential allotment was involved. The period covered by the transaction spans from 19 March 2025 to 1 July 2026, indicating that the share sales were executed over more than a year rather than in a single block trade.

Key facts at a glance

Why this matters for investors

The reduction of the PAC’s stake from 8.21% to 6.25% does not affect the promoter group, as the PAC is explicitly stated to be outside the promoter category. Consequently, the change does not trigger any mandatory offer under the SEBI takeover code, nor does it alter control dynamics within the company.

For shareholders, the key implication is a modest dilution of the PAC’s voting power. The overall share capital remains unchanged, so existing shareholders’ proportional ownership is unaffected. However, the sale signals that the Agarwal family and associated entities are adjusting their exposure to the company, which may be of interest to investors monitoring large shareholder activity.

The filing also confirms that the transaction was conducted in compliance with SEBI regulations, providing transparency about the timing, mode, and magnitude of the share disposal.

Conclusion

Himadri Speciality Chemical’s Reg 29(2) filing reveals that the Mahabir Prasad Agarwal‑led PAC sold approximately 99 lakh shares between March 2025 and July 2026, lowering its holding to 6.25% of the diluted share capital. The sale was executed via open‑market and inter‑company transfers, with no impact on promoter status or total equity capital. The disclosure satisfies SEBI’s reporting requirements, and no further regulatory approvals are pending for this specific share disposal.