BSEInsider Trading / SAST1d ago · 24 Sept 2026, 01:01 pm
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Croll Reynolds International Inc.
Mazda Ltd-$ · 523792
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Croll Reynolds International Inc. has sold 5,90,503 shares of Mazda Ltd, representing 2.95% of the equity share capital, crossing the 2% threshold under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Full Announcement
Mazda Ltd-$ - 523792 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
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CROLL REYNOLDS INTERNATIONAL, INC.
Samuel W. Croll
Date: 24 September 2026
National Stock Exchange of India Ltd., BSE Limited
Exchange Plaza, 3rd Floor Phiroze Jeejeebhoy Towers
Plot No.3-1. “G” Block, I.F.B. Centre, Dalal Street, Fort,
Bandra-Kurla-Complex, Bandra (East), Mumbai 400001
Mumbai – 400 051
Email: takeover@nse.co.in E-mail: corp.relations@bseindia.com
Company Secretary
Mazda Limited
Unit - 1, C/1-39/13/16,
GIDC Naroda, Ahmedabad,
Gujarat, 382330, India
E-mail: nishith@mazdalimited.com
Dear Sir/Madam,
Sub: Disclosure under Regulation 29(2) of the Securities and Exchange Board of India
(Substantial Acquisition of Shares and Takeovers) Regulations 2011 (“Takeover
Regulations”).
This is to inform you that we, Croll Reynolds International Inc., have sold: (i) 2,00,149 equity shares of
Mazda Limited (“Target Company”) (representing 1.00% of the equity share capital of the Target
Company) on 18 September 2026; (ii) 1,47,427 equity shares of the Target Company (representing
0.74% of the equity share capital of the Target Company) on 21 September 2026; and (iii) 2,42,927
equity shares of the Target Company (representing 1.21% of the equity share capital of the Target
Company) on 22 September 2026.
Please note that the trade undertaken on 22 September 2026, together with the trades undertaken
on 18 September 2026 and 21 September 2026, have cumulatively crossed the 2% threshold
prescribed under Regulation 29(2) of the Takeover Regulations.
Accordingly, please find enclosed the disclosure under Regulation 29(2) of the Takeover Regulations.
Kindly take the above on record.
Thanking you,
Yours faithfully,
For and on behalf of Croll Reynolds International Inc.
Name: Samuel W. Croll
Designation: CEO
C ROLL REYNOLDS International, Inc., INC SIX CAMPUS DRIVE, PARSIPPANY, NJ 07054 TEL: 908-232-4200
CROLL REYNOLDS INTERNATIONAL, INC.
Samuel W. Croll
Disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011
Name of the Target Company (TC) Mazda Limited (“Target Company”)
Name(s) of the seller and Persons Croll Reynolds International Inc. (“Seller”)
Acting in Concert (PAC) with the
seller
Whether the seller belongs to No
Promoter/Promoter group
Name(s) of the Stock Exchange(s) BSE Limited and National Stock Exchange of India Limited
where the shares of TC are listed
Details of the acquisition/ disposal Number % w.r.t. total % w.r.t. total
as follows share/voting diluted
capital wherever share/voting capital
applicable(*) of the TC (**)
Before the disposal under
consideration, holding of:
a) Shares carrying voting rights
1) Seller 14,47,500 7.23% 7.23%
b) Shares in the nature of
encumbrance (pledge/ lien/
Nil Nil Nil
non-disposal undertaking/
others)
c) Voting rights (VR) otherwise
Nil Nil Nil
than by shares
d) Warrants/convertible
securities/ any other
instrument that entitles the
Nil Nil Nil
seller to receive shares carrying
voting rights in the TC (specify
holding in each category)
e) Total (a+b+c+d) 14,47,500 7.23% 7.23%
Details of acquisition/ sale
a) Shares carrying voting rights
acquired/sold
1) Seller 5,90,503 (***) 2.95% (***) 2.95% (***)
b) VRs acquired/sold otherwise
Nil Nil Nil
than by shares
c) Warrants/convertible
securities/any other
instrument that entitles the
seller to receive shares carrying Nil Nil Nil
voting rights in the TC (specify
holding in each category)
acquired/sold
d) Shares encumbered/
Nil Nil Nil
invoked/released by the seller
C ROLL REYNOLDS International, Inc., INC SIX CAMPUS DRIVE, PARSIPPANY, NJ 07054 TEL: 908-232-4200
CROLL REYNOLDS INTERNATIONAL, INC.
Samuel W. Croll
e) Total (a+b+c+d) 5,90,503 2.95% 2.95%
After the acquisition/sale of
shares, holding of:
a) Shares carrying voting rights
1) Seller 8,56,997 4.28% 4.28%
b) Shares encumbered with the
Nil Nil Nil
seller
c) VRs otherwise than by shares Nil Nil Nil
d) Warrants/convertible
securities/any other
instrument that entitles the
seller to receive shares carrying Nil Nil Nil
voting rights in the TC (specify
holding in each category) after
sale
e) Total (a+b+c+d) 8,56,997 4.28% 4.28%
Mode of acquisition / sale (e.g. The transaction has been undertaken by way of open
open market / off-market / public market sales.
issue / rights issue / preferential
allotment / inter-se transfer etc).
Date of acquisition / sale of shares (i) 2,00,149 equity shares on 18 September 2026
/ VR or date of receipt of (ii) 1,47,427 equity shares on 21 September 2026
intimation of allotment of shares, (iii) 2,42,927 equity shares on 22 September 2026
whichever is applicable
Equity share capital / total voting INR 4,00,50,000/- divided into 2,00,25,000 equity shares
capital of the TC before the said having face value of INR 2/- each
acquisition / sale
Equity share capital/ total voting INR 4,00,50,000/- divided into 2,00,25,000 equity shares
capital of the TC after the said having face value of INR 2/- each
acquisition / sale
Total diluted share/voting capital INR 4,00,50,000/- divided into 2,00,25,000 equity shares
of the TC after the said having face value of INR 2/- each
acquisition/ sale
(*) Total share capital/ voting capital to be taken as per the latest filing done by the company to the
Stock Exchange under Clause 35 of the Listing Agreement.
(**) Diluted share/voting capital means the total number of shares in the TC assuming full conversion
of the outstanding convertible securities/warrants into equity shares of the TC.
(***) Croll Reynolds International Inc. has sold: (i) 2,00,149 equity shares of the Target Company
(representing 1.00% of the equity share capital of the Target Company) on 18 September 2026; (ii)
1,47,427 equity shares of the Target Company (representing 0.74% of the equity share capital of the
Target Company) on 21 September 2026; and (iii) 2,42,927 equity shares of the Target Company
(representing 1.21% of the equity share capital of the Target Company) on 22 September 2026. For
completeness, please note that the trade undertaken on 22 September 2026, together with the trades
C ROLL REYNOLDS International, Inc., INC SIX CAMPUS DRIVE, PARSIPPANY, NJ 07054 TEL: 908-232-4200
CROLL REYNOLDS INTERNATIONAL, INC.
Samuel W. Croll
undertaken on 18 September 2026 and 21 September 2026, have cumulatively crossed the 2%
threshold prescribed under Regulation 29(2) of the Takeover Regulations.
Yours truly,
For and on behalf of Croll Reynolds Internaaonal Inc.
Name: Samuel W. Croll
Designaaon: CEO
Place: Parsippany New Jersey 07054 USA
Date: 24 September 2026
C ROLL REYNOLDS International, Inc., INC SIX CAMPUS DRIVE, PARSIPPANY, NJ 07054 TEL: 908-232-4200