Promoter Proposes to Re-invest Rs. 76.18 Crore Share Sale Proceeds into Medical Device Unit Expansion

Promoter Mr. Sachidanand Hariram Upadhyay sold 89,98,598 equity shares (face value Rs. 10 each) on Sept 29, 2026 via open market on BSE for net proceeds of Rs. 76,18,19,624/-.

Thu 1 Oct 2026

Shares Sold

89,98,598 equity shares (face value Rs. 10 each)

Sale Date

September 29, 2026

Net Proceeds

Rs. 76,18,19,624/-

Exchange

BSE

Proposed Re-investment

Majority of proceeds into strategic expansion of medical device unit

What was shared

The company informed BSE that it has received a confirmation and proposal from its promoter, Mr. Sachidanand Hariram Upadhyay, regarding the use of money he received from selling shares of the company.

The share sale

• 89,98,598 equity shares of face value Rs. 10 each were sold on September 29, 2026.
• The sale was through an open market transaction on BSE.
• Aggregate net proceeds: Rs. 76,18,19,624/-, credited to his bank account.
• The sale itself was intimated to the exchange by a separate letter dated September 30, 2026.

The re-investment proposal

The promoter has confirmed and proposed to re-invest the majority of the proceeds towards strategic expansion of the company's medical device unit, through a viable and acceptable means.

How to read this

A promoter selling a large block of shares is often read as a reduction in promoter skin in the game. Here the promoter has stated an intention to channel most of that money back into the company's medical device expansion. At this stage it is a confirmation and proposal, not a completed transaction, and the exact route, amount and timing of the re-investment are matters to watch in subsequent disclosures.

The letter is signed by Mr. Sachidanand Hariram Upadhyay, Chairman and Managing Director.

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