Bajoria Financial Services Pvt Ltd (BFSPL), part of the promoter group of IFGL Refractories Limited, has acquired 4,37,490 equity shares of Rs. 10 each from Mr. Mihir Prakash Bajoria, also a promoter group member. The acquisition, which took place on December 3, 2025, for a total consideration of ₹9.27 crore (₹212 per share), has increased BFSPL's shareholding in IFGL Refractories from 71.82% to 72.43%. This transaction is an inter-se transfer of shares within the promoter group and is exempt from open offer obligations under Regulation 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition price of ₹212 per share is lower than the 60-day volume-weighted average market price of ₹293.88. BFSPL and Mr. Bajoria have filed the necessary disclosures and reports with the Securities and Exchange Board of India (SEBI) and the stock exchanges as required by SEBI regulations.