Gravita India has announced the demise of Dr. Mahavir Prasad Agarwal, a key promoter of the company. Dr. Agarwal, who did not personally hold any shares in Gravita India, was a trustee of the Agrawal Family Private Trust, which holds a 23.50% shareholding in the company.
With his passing, Dr. Agarwal will cease to be recognised as a promoter under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has communicated this change in compliance with the relevant regulations.
Dr. Agarwal’s contribution to the company and his role in the Agrawal Family Private Trust were significant, and his passing marks a notable change in the company’s promoter structure.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).