Bajoria Financial Services to boost IFGL Refractories stake via inter-se transfer

Bajoria Financial Services Private Limited (BFSPL) announced its intention to acquire 437,490 equity shares of IFGL Refractories Limited from Mr. Mihir Prakash Bajoria, a fellow promoter. This acquisition, classified as an inter-se transfer among qualifying promoter persons, will be conducted at a price of INR 212 per equity share. The shares represent 0.61% of IFGL Refractories' share capital. The proposed transaction is scheduled for on or after December 3, 2025.

Post-acquisition, BFSPL's shareholding in IFGL Refractories will increase from 66.72% to 67.33%. Mr. Mihir Prakash Bajoria's stake will be fully transferred, while the total shareholding of the promoter group will remain at 72.43%, reflecting a consolidation of shares within the group.

The acquisition is exempt from an open offer under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition price is not higher than 25% of the volume-weighted average market price, which was INR 293.88 over the 60 trading days preceding the notice date on the NSE.