Company Update

National Fittings Limited has announced a board meeting following receipt of a letter from promoter and non-executive director Mr. Ackanaickenpalayam Venkataswamy Palaniswamy, expressing his intention to sell his entire 34.04% stake (30.92 lakh shares) to Himgiri Castings Pvt Ltd and four related parties (PACs). This share purchase agreement marks a potential change in the promoter group.

Upon completion, the Acquirer and PACs will join the promoter group and have the right to nominate directors to the board.

This transaction triggers an Open Offer as per takeover norms.

There is no existing shareholding by the Acquirer and PACs and no impact on related party status.