Mumbai: Avalon Technologies on Thursday clarified media reports regarding a proposed stake sale by Bhaskar Srinivasan’s promoter group. The company stated that the promoter group held a 15.42% stake in Avalon Technologies as of September 29, 2026.

Promoter Group Shareholding

Bhaskar Srinivasan and his promoter group, comprising BBS Family Trust and KBS Family Trust, together hold 1,03,12,775 shares, representing 15.42% of the company's total shares. Bhaskar Srinivasan holds 62,70,355 shares (9.38%), while BBS Family Trust and KBS Family Trust each hold 20,20,710 shares (3.02%).

Clarification on KBS Family Trust

The company clarified that the reference to “KBS Family Trust” pertains to Kavya Bhaskar Srinivasan Family Trust and is part of Bhaskar Srinivasan’s promoter group. It specified that Kunhamed Bicha or his promoter group are not selling any shares in connection with this proposed stake sale.

Company Statement

Avalon Technologies said it remains committed to maintaining transparency and providing accurate information to its shareholders and stakeholders. Investors are advised to refer to the company’s official regulatory disclosures for shareholding information.