M Tek Copper Limited (NSE:MCL), erstwhile Madhav Copper Limited, disclosed on 20 August 2026 that promoter Mr. Rajesh Odhavjibhai Patel sold 2,500 equity shares in the open market on 18 August 2026, as required under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Key Highlights
- Promoter Rajesh Odhavjibhai Patel disposed of 2,500 equity shares of M Tek Copper Limited via the open market on 18 August 2026.
- His promoter holding declined from 1,650,000 shares, representing 6.08% of total voting capital, to 1,647,500 shares, representing 5.93%.
- The total equity share capital of the company remains unchanged at Rs. 13,57,14,000, divided into 2,71,42,800 equity shares of face value Rs. 5 each.
- No shares held by the promoter are encumbered through any pledge, lien, or non-disposal undertaking either before or after this transaction.
About the Company
M Tek Copper Limited (NSE:MCL), formerly known as Madhav Copper Limited, is a copper products manufacturer headquartered in Bhavnagar, Gujarat. The company operates in the metals and mining sector, producing copper-based materials. It is listed on the National Stock Exchange of India, and its registered office and operations are based in Gujarat, India.
Announcement in Detail
The disclosure, submitted by Company Secretary and Compliance Officer CS Sneha Langaliya on behalf of M Tek Copper Limited (NSE:MCL), was filed with the National Stock Exchange on 20 August 2026. The filing confirms that Mr. Rajesh Odhavjibhai Patel, a promoter of the company, sold 2,500 equity shares carrying voting rights in the open market on 18 August 2026, triggering a mandatory disclosure requirement under Regulation 29(2) of the SEBI Takeover Code.
Prior to the transaction, Mr. Patel held 1,650,000 shares, equal to 6.08% of the company's total voting capital. Following the open market sale of 2,500 shares, his holding stands at 1,647,500 shares, equivalent to 5.93% of total voting capital. The filing notes that no convertible instruments, warrants, or encumbrances are associated with his shareholding before or after the disposal.
Impact on Investors
Investors will note that the promoter's shareholding has decreased by 0.15 percentage points, moving from 6.08% to 5.93% of total voting capital following this open market transaction. The filing shows that no portion of Mr. Patel's holding is subject to any pledge or encumbrance, which the disclosed terms indicate does not present any immediate collateral-related risk arising from this specific transaction.
Shareholders will observe that the scale of the disposal is relatively small in relation to the company's total issued capital of 2,71,42,800 equity shares of face value Rs. 5 each. The total share capital of the company has not been altered by this transaction. Investors should review the official exchange filing for complete shareholding details before drawing conclusions about promoter intent or future plans.
Sector and Market Context
India's copper industry is closely linked to downstream demand from power cables, electrical equipment, and consumer electronics manufacturing. The Bureau of Mines under the Ministry of Mines tracks domestic production and consumption data for copper, reflecting the metal's role as a key industrial input. Promoter shareholding disclosures under SEBI's Takeover Regulations are a standard transparency mechanism applicable across all listed Indian companies, helping investors monitor changes in controlling-shareholder positions in publicly traded entities, including smaller-cap manufacturers in the metals segment.