Rare Indian Shares ( by Ashwani K Aggarwal ): . Rare Shares

To,
The Board of Directors
Anugraha Valve Castings Ltd
391/2, Sengoda Goundenpudur
Arasur Village
Coimbatore - 641407

Subject: Request for Liquidity under the Companies Act, 2013: Listing or Buyback of Shares

Dear Members of the Board,
I am writing as a shareholder of Anugraha Valve Castings Ltd, holding ------- equity shares under Client ID ---------- .
As an unlisted public company with a substantial base exceeding 500 shareholders, the lack of a secondary market creates severe liquidity challenges for minority investors. While we appreciate the management’s operational efforts, shareholders require a transparent, regulatory-compliant exit mechanism to realize the fair value of their investments. [1]
Therefore, I formally request the Board of Directors to evaluate and execute one of the following capital structuring options:
Listing via IPO: Initiate an Initial Public Offering (IPO) to list the company's shares on the BSE or NSE mainboards, or the SME platform, in compliance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations.

Share Buyback: Launch a share buyback program under Section 68 of the Companies Act, 2013, utilizing the company's free reserves or securities premium account to offer an immediate, equitable exit route for shareholders.
Given that the investor base exceeds the threshold for public scrutiny, establishing a clear liquidity roadmap is critical. I request the Board to table this matter at the next Board Meeting and provide an update at the upcoming Annual General Meeting (AGM).

Thank you for your attention to this critical shareholder matter.

Regards

List of Dealers of Unlisted / Delisted Shares

Full List of Dealers of Unlisted / Delisted Shares

Please click ;-

http://www.rareindianshares.info/2024/10/dealers-of-unlisted-delisted-shares.html

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HDFC Securities Deals in Unlisted Shares / Other Dealers' List

Please click ;-

https://www.hdfcsec.com/unlisted-shares

SEIL Energy India -2024-2025 Annual Report

Please click ;-

https://seil-energy.sgp1.cdn.digitaloceanspaces.com/documents/annual-reports/SEIL%20Annual%20Report%202024-25.pdf

Official site ;-

https://www.seilenergy.com/

Blog Comments

Some shares of SEIL Energy India are available for Sale / Purchase with Dealers of Rare Indian Shares.

August 02, 2026

Inox Leasing and Finance - 2024-2025 Annual Report

Please click ;-

https://api.ilfl.co.in/uploads/INOX_LEASING_AND_FINANCE_LIMITED_ANNUAL_REPORT_2024-25.pdf

Official site

https://ilfl.co.in/

Blog Comments
Some shares of Inox Leasing and Finance are available for Sale / Purchase with Dealers of Rare Indian Shares

August 01, 2026

Alternicq Ltd . New Name of Manjushree Technopack 2024-2025 Annual Report

Please click ;-

https://admin.alternicq.com/wp-content/uploads/2026/06/Manjushree-Technopack-Limited-AR_2024-25.pdf

Official site

https://www.alternicq.com/

Blog Comments

Some shares of Manjushree Technopack are available for Sale / Purchase with Dealers of Rare Indian Shares.

General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names has holdings in this Company. So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this Blog or Blog Writer

IDBI Bank selling Unlisted shares of IDBI Bank - Private Placement

Please click ;-

https://www.thehindu.com/business/markets/sebi-clarifies-off-market-sale-of-unlisted-shares-to-up-to-200-buyers-not-a-public-issue/article71291947.ece

July 31, 2026

Dalmia Bharat Refractories-CareEdge RatIng Report

On Birla Tyres

CareEdge Rating expects the tyre business to ramp up its scale of operations with
expectations of break even in FY27

Page 3

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However, ratings continue to derive strength from DBRL being a part of the resourceful Dalmia Bharat Group, which makes
significant flexibility available with it. Investments (March 31, 2026: ₹2306 crores; majorly comprising of equity shares of RHI
Magnesita India Limited worth ₹913 crore, equity shares of Dalmia Bharat Limited worth ₹627 crore, optionally convertible
debentures (OCDs) in Hippostores Technology Private Limited (Hippostores) worth ₹425 crore and balance other liquid
investments) held by DBRL provides it sufficient buffer to meet its repayment obligations till the time company starts generating
accruals, although value of investments moderated significantly from ₹2728 crore as on March 31, 2025, due to decline in value
of some of its listed investments. As a result, investment plus liquidity to debt multiplier moderated to 2.41x as on March 31,
2026, from 3.53x as on March 31, 2025.

Page 1

For full Report please click ;-

https://www.careratings.com/upload/CompanyFiles/PR/202607140703_Dalmia_Bharat_Refractories_Limited.pdf

Blog Credit to ;-

Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

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OLD POSTS

February 17, 2026

Dalmia Bharat Refracttories BV Rs.665+ Fractions Paid at VERY Low Rs 171.89 p Per Share

Please click ;

https://www.msei.in/MeetingAnnouncement/DALMIARF/Company%20Update/2026216/16022026_DALMIARF_01.pdf

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Blog Comments

1. There is no treading in Metropolitan Stock Exchange.

2.Book value is Rs.665 + per share

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OLD POSTS

April 09, 2024

Dalmia Bharat Refractories. Book Value Rs.665 /38 Worked Out by Analysts / Dealers

Please click -

https://www.planify.in/research-report/dalmia-bharat-refractories-limited/

Blog Credit to ;-

Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

Blog Request Please Recheck All Details

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OLD POSTS

March 19, 2024

Dalmia Bharat Refractories Becoming like Dalmia Grup's Tata Investments / Bajaj Holdings / Nalwa Sons

Dalmia Bharat Refractories has become Dalmia Group's Holding ComPANY

Huge Investments in Hippo Stores

Please click ;-

https://drive.google.com/file/d/1CzY7bYRIDW35WCgHndx8UCkdkp52OZDJ/view?usp=sharing

https://drive.google.com/file/d/1_spvoURdOfxvtCJcczSQUSL45_QHkeic/view?usp=sharing

Blog Credit to ;-

Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

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Hippo Stores site

https://www.hippostores.com/

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OLD POSTS

February 16, 2024

Dalmia Bharat Refractories - Rs 676 / 50 p per share Valuation by Company's Calculations

Fantastic Official Valuation and Hidden Assets

Please refer to Page 5 , Point 16;2 of the link

https://www.dalmiaocl.com/documents/Valuation_Report.pdf

Share Exchange Ratio between Dalmia Bharat Sugar and Dalmia Bharat Refractories

https://www.dalmiaocl.com/documents/Scheme_of_Arrangment.pdf

Blog Credit to ;-

Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

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OLD POSTS

February 06, 2024

Dalmia Bharat Refractories -Share Trading Around Rs. 250 in Unlisted Market Excellent Q3- 2024 Results . Merger of some Dalmia Sugar Units

For Q3 -2024 , please click ;-

https://www.msei.in/MeetingAnnouncement/DALMIARF/Outcome%20of%20Board%20Meeting/202422/02022024_DALMIARF_01.pdf

Blog Credit to ;-

Mr. Vijay, Jalandhar , m 7009409142

himanshusoi478@gmail.com

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Merger of some Units of Dalmia Bharat Sugar

https://www.msei.in/MeetingAnnouncement/DALMIARF/Company%20Update/202422/02022024_DALMIARF_03.pdf

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Because of Demerrger ,shareholders of Dalmia Bharat Sugar , which id listed in NSE and BSE would get shares of Dalmia Bharat Refractories ,which is a defacto Unlisted share , So Dalmia Bharat Refractories ' share would get listed in BSE / NSE

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Dalmia Bharat Refractories Listing - SEBI new Rules

SEBI New Listing rules

Time period for trading and listing of securities post merger/demerger has been extended by 15 days {i.e. earlier time period of 45 days (Trading in Securities) has been extended to 60 Days (which includes both listing & trading of Securities} from the date of NCLT order.

https://www.corporateprofessionals.com/regulatoryupdate/amendment-to-the-sebi-circular-relating-to-scheme-of-arrangement-involving-listed-companies/

Important ;

Dalmia Bharat Sugar is listed in BSE / NSE.

Dalmia Bharat Refractories has been listed at Calcutta Stock Exchange and Metropolitan Stock Exchange , which have no share trading .

EXPERTS OPINE THAT INVESTORS OF DALMIA BHARAT CANNOT GET SHARES OF OF NON OPERATIONAL STOCK EXCHANGES LISTED COMPANY.

SO THERE WOULD BE NSE / BSE LISTING OF DALMIA BHARAT REFRACTORIES

Please Recheck this.

As such there are , now , no sellers , in the Unlisted Market , of shares of Dalmia Bharat Refractories even at Rs. 200 / share

Blog Caution
PLEASE RECHECK INDEPENDENTLY.

CAUTION- PLEASE DO NOT TAKE ANY INVESTMENT DECISION BASED ON THESE POINTS .

PLEASE DO ONLY A FURTHER SELF STUDY

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January 12, 2024

Dalmia Bharat Refractories Exciting Prospects in Magnesia Carbon and Birla Tyres

Please click ;-

https://drive.google.com/file/d/14SJxu6Pb6qiZIUO79xM4bzkn31qlePsl/view?usp=sharing

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December 23, 2023

Dalmia Bharat Refractories Shareholders Demand Allotment of Dalmia Bharat shares on Proportionate Basis

Dalmia Bharat Refractories which already held a sizable holding in Dalmia Bharat Limited has further 6 lakh 53 , 000 shares of Dalmia Bharat at Rs. 2201 / share.

https://www.msei.in/MeetingAnnouncement/DALMIARF/Company%20Update/20231222/22122023_DALMIARF_01.pdf

Shareholders of Dalmia Bharat Refractories are demanding that the holding of Dalmia Bharat be allotted to shareholders of Dalmia Bharat Refractories , on a Prorata basis as a Bonus issue

Dalmia Bharat Ltd is Listed in BSE /NSE whereas Dalmia Bharat Refractories shares are defacto Unlisted.

Hence , shareholders of Dalmia Refectories will have an opportunity to en cash some part of their holdings in BSE / NSE.

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'What is going on in Dalmia Bharat Refractories and Metropolitan Stock Exchange'-? Investors are asking.

1 Had Dalmia Bharat Refractories , which is Rs. 10 paid up ,been listed at BSE / NSE its rate would have been upward of Rs. 500 .?

2 . Why is Dalmia Bharat Refractories avoiding BSE / NSE listing. ?

3 . How is Metropolitan Stock Exchange showing transactions at Rs. 165 , when there are trades in the Unlisted Market at around Rs. 250 ?

4 How is Metropolitan Stock Exchange showing deals n Dalmia Bharat Refractories shares when there is no Equity trading there ? ,

Considering the bright future of Dalmia Bharat Refractories in Magnesia Carbon , Birla Tyres , investment , inter alia , in shares of Dalmia Bharat and RHI Magnesita , it is being discussed in Investors ' circles that share price of Dalmia Bharat Refractories would , from present Rs. 250 , zoom past Rs. 500 . - PLEASE RECHECK THIS INDEPENDENTLY BEFORE TAKING ANY INVESTMENT DECISION. NO RESPONSIBILITY WITH THIS BLOG.

Shares of of RHI Magnesita ,in which Dalmia Bharat Refractories has a a large holding are around Rs ,725 per Share.

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Dalmia Bharat Refractories - Promoters Sell Stake to Another Group Company at Rs. 427 /share

Please click ;-

https://www.bseindia.com/xml-data/corpfiling/AttachLive/8fba22df-82d3-45d6-836c-076dd281a0d9.pdf

The remaining Non Promoter shareholders should also get a Buy back offer / Exit Option at Rs. 427 per share. There has been a Change of Promoters

Further , there should be immediate BSE listing , as was promised by the Promoters at the time of merger of Dalmia Refractories and OCL Refractories.

Investors are shocked to see that Dalmia Bharat Refractories has been listed at Calcutta Stock Exchange , which has no share trading and Metropolitan Stock Exchange .

How come Metropolitan Stock Exchange was reporting, a few days back , share transactions of Dalmia Bharat Refractories at Rs. 150 / share ,where as Promoters are selling their shares at Rs.427 / share.

Investors are demanding a full enqiry .

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Dalmia Bharat Refractories- Why Promoters Not Buying From Metropolitan Stock Exchange ?

Dalmia Bharat Refractories' promoters are Buying / Selling its shares at Rs. 427/ share.

Metropolitan Stock Exchange is reporting share transactions of Dalmia Bharat Refractories around Rs 160 / share.

It makes a perfect Business sense for Promoters to buy more of these shares from Metropolitan Stock Exchange at these rates.

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November 07, 2023

Dalmia Bharat Refractories-Gets Demerged Birla Tyres Unit- Lottery ? DBRL Rate Shoots Up- PLEASE RECHECK THIS INDEPENDENTLY

Birla Tyres Unit to be demerged with Dalmia Bharat Refractories

Please click ;-

https:// drive.google.com/file/d/19EEQP4FoCII-uepGdcPXwEhbaxFjkyYK/view?usp=sharing

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Birla Tyres - Lottery ? Also for Dalmia Bharat Refactories - Acquired at Rs 347 cr Relacement cost Rs.3100 cr

https://www.bseindia.com/xml-data/corpfiling/AttachHis/aa95abfa-674b-40a5-8cf7-111ff3110015.pdf

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Some shares of Dalmia Refractories are available with Dealers of Rare Indian Shares .

BLOG DISCLAIMER

General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names has holdings in Dalmia Bharat Refractories So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this Blog or Blog Writer

Empire Spices and Foods- shares Trade in Unlisted Market

Blog ; Please Recheck All Information .

Please click ;-

https://unlistedzone.com/shares/empire-spices-and-foods-limited-unlisted-shares

Official site

https://esfl.co.in/

Blog Comments

Some shares-of Empire Spices and Foods are available , for sale / purchase ,with Dealers of Rare Indian Shares.

July 30, 2026

Zepto ipo Paused- Moneycontrol link

Please click ;-

https://www.moneycontrol.com/news/business/ipo/zepto-pauses-ipo-plans-for-now-likely-to-raise-over-rs-1-000-crore-in-pre-ipo-funding-from-existing-investors-13989283.html

OLD POSTS

July 27, 2026

Zepto Valuation . IPO news -Moneycontrol link

Please click ;-

https://www.moneycontrol.com/news/business/companies/zepto-investors-test-waters-with-revised-post-money-ipo-valuation-of-around-3bn-13984902.html

OLD POSTS

July 18, 2026

Zepto IPO -Motilal Oswal Invests - Moneycontrol link

Please click ;-

https://www.moneycontrol.com/news/business/ipo/zepto-ipo-norges-motilal-oswal-to-invest-in-800-million-ipo-valuing-company-at-5-1-billion-post-money-13976803.html

Zepto -Official site

https://www.zepto.com/?srsltid=AfmBOoo_jDlpcEAcRjc7RUo3lYSvKHvVgpQx1_kiqZrDSBFpo5_Rt-AG

Blog Comments: Some shares of Zepto are available for Sale / Purchase with Dealers of Rare Indian Shares .

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OLD POST

June 09, 2026

Zepto ipo News - Upstox News

Please click ;-

https://upstox.com/news/market-news/ipo/zepto-ipo-quick-commerce-giant-files-updated-drhp-with-8-010-crore-fresh-issue-a-look-at-financials/article-195001/

GFCL EV Products 2025-2026 Annual Report

Please click ;-

https://gfclev.co.in/public/frontend/assets/pdf/GFCLEV-Annual-Report-FY2025-26.pdf

Official site

https://gfclev.co.in/

Blog Comments

Some shares-of GFCL EV Products are available , for sale / purchase ,with Dealers of Rare Indian Shares.

July 29, 2026

Lok Prakashan Ltd Ahmedabad 2023-2024 Annual Report

Blog Caution ; This is 2023-2024 Annual Report

Please click ;-

https://drive.altiusinvestech.com/docs/Lok-Prakashan-Annual-Report-2024.pdf

Blog Comments

Some shares-of Lok Prakashan Ltd are available , for sale / purchase ,with Dealers of Rare Indian Shares.

July 28, 2026

Altius Investech on IndusInd General Insurance: Bain Capital's Entry-Message Received

Blog Disclaimer ; Message as Received.
Please Recheck all facts
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MESSAGE

Global private equity firm Bain Capital is in advanced discussions to acquire up to a 25% stake in IndusInd General Insurance, in a transaction that could value the company at approximately ₹16,000 crore. At this valuation, the indicative value works out to around ₹600 per share.

Why This Development is Important

Bain is expected to invest ₹4,000–5,000 crore, marking its first direct investment in India's general insurance sector.
The proposed deal values the company at 1.3–1.7x Gross Written Premium (GWP), while listed general insurance companies trade at around 3x GWP, highlighting potential room for future re-rating.
FY26 GWP stood at ₹12,236 crore, with a 3.6% market share, making it one of India's established private general insurers.
Bain has reportedly completed financial, legal and operational due diligence and is viewing this as a long-term strategic investment, rather than a short-term financial bet.

Our View

When we looked at the company, our conviction was driven by its strong insurance franchise, backing from the Hinduja Group, attractive valuation, and long-term growth potential.

This proposed transaction reinforces our belief that identifying quality unlisted businesses before institutional capital enters can create meaningful value for investors.

If you're looking to discover similar unlisted and pre-IPO investment opportunities, we'd be happy to assist.

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