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Gallantt Ispat Limited ( (IN:GALLANTT) ) has issued an announcement.
Gallantt Ispat Limited has announced a substantial acquisition of shares as part of an internal reorganization within the Agrawal family, who are the promoters of the company. The transaction involves the acquisition of over 51 million equity shares, representing 21.226% of the company’s share capital, through an off-market inter-se transfer by way of a gift, with no financial consideration involved. This move aims to streamline the family’s assets and does not involve an open offer due to regulatory exemptions.
More about Gallantt Ispat Limited
Gallantt Ispat Limited operates in the steel industry, focusing on the production and distribution of steel products. The company is positioned in the market as a significant player within the steel manufacturing sector, catering to various industrial needs.
Average Trading Volume: 33,418
Technical Sentiment Signal: Buy
Current Market Cap: 142.5B INR
Learn more about GALLANTT stock on TipRanks’ Stock Analysis page.