Mahesh Developers shareholders and shareholding pattern

BSE: 542677RealtySmall Cap

₹13.40₹1.01 (8.15%)

Share price at the BSE close on 23 Oct 2026. Previous close ₹12.39.

Under BSE's graded surveillance, stage 0, on the list for 22 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.

Market cap: ₹5.56 Cr5,022nd largest listed
P/E: 42.4
P/B: 1.4
Dividend yield: Nonein the last 12 months
ROE: 3.3%
ROCE: 0.9%
Debt to equity: 2.85
Volume, BSE: 1,237

Who owns Mahesh Developers, filing by filing

Per cent of the company's shares. Every filing on record, from Jun 2019; the latest is the filing for Sep 2026.

Sep 2026 filing

Promoters72.29%
Indian institutions0.05%
Individuals and others27.66%

Shareholding pattern, per cent, from Sep 2022

Promoters
Indian institutions
Individuals and others

Per cent	Jun 2019Filed 19 Jul	Sep 2019Filed 23 Oct	Dec 2019Filed 24 Jan	Mar 2020Filed 16 May	Jun 2020Filed 15 Jul	Sep 2020Filed 21 Oct	Dec 2020Filed 20 Jan	Mar 2021Filed 9 Apr	Jun 2021Filed 19 Jul	Sep 2021Filed 13 Oct	Dec 2021Filed 14 Jan	Mar 2022Filed 15 Apr	Jun 2022Filed 11 Jul	Sep 2022Filed 14 Oct	Dec 2022Filed 13 Jan	Mar 2023Filed 10 Apr	Jun 2023Filed 13 Jul	Sep 2023Filed 30 Jun	Dec 2023Filed 30 Jun	Mar 2024Filed 30 Jun	Jun 2024Filed 30 Jun	Sep 2024Filed 30 Jun	Dec 2024Filed 30 Jun	Mar 2025Filed 30 Jun	Jun 2025Filed 21 Feb	Sep 2025Filed 21 Feb	Dec 2025Filed 18 Feb	Mar 2026Filed 22 Apr	Jun 2026Filed 14 Aug	Sep 2026Filed 19 Oct
	72.25%	72.25%	72.25%	72.25%	72.25%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%
Indian promoters	72.25%	72.25%	72.25%	72.25%	72.25%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%	72.29%
	27.75%	27.75%	27.75%	27.75%	27.75%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%
	–	–	–	–	–	–	–	–	–	–	–	–	–	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
Mutual funds	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
Banks	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%	27.66%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	18.42%	18.25%	18.22%	18.45%	19.53%	19.52%	17.80%	17.88%	17.85%	17.80%	17.80%	17.79%	17.79%	17.78%	17.78%	17.78%	18.56%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	7.47%	7.56%	7.55%	7.34%	5.95%	5.95%	7.70%	7.59%	7.60%	7.60%	7.60%	7.60%	7.60%	7.60%	7.60%	7.60%	7.25%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%	0.64%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	0.54%	0.54%	0.54%	0.54%	0.84%	0.84%	0.85%	0.85%	0.85%	0.85%	0.85%	0.87%	0.87%	0.87%	0.87%	0.87%	0.86%
	–	–	–	–	–	–	–	–	–	–	–	–	–	0.60%	0.67%	0.72%	0.69%	0.70%	0.71%	0.66%	0.70%	0.72%	0.77%	0.77%	0.77%	0.77%	0.77%	0.77%	0.77%	0.35%
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.69%	0.70%	0.66%	0.69%	0.71%	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%	0.34%
Shares in issue	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000	41,52,000
Shares locked in	30,00,000	3,59,997	29,24,999	29,24,999	29,99,999	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	15,000	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Promoters' shares locked in	29,99,999	3,59,997	29,24,999	29,24,999	29,99,999	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	8,30,400	15,000	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Mahesh Developers shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Jun 2019Filed 19 Jul	Sep 2019Filed 23 Oct	Dec 2019Filed 24 Jan	Mar 2020Filed 16 May	Jun 2020Filed 15 Jul	Sep 2020Filed 21 Oct	Dec 2020Filed 20 Jan	Mar 2021Filed 9 Apr	Jun 2021Filed 19 Jul	Sep 2021Filed 13 Oct	Dec 2021Filed 14 Jan	Mar 2022Filed 15 Apr	Jun 2022Filed 11 Jul	Sep 2022Filed 14 Oct	Dec 2022Filed 13 Jan	Mar 2023Filed 10 Apr	Jun 2023Filed 13 Jul	Sep 2023Filed 30 Jun	Dec 2023Filed 30 Jun	Mar 2024Filed 30 Jun	Jun 2024Filed 30 Jun	Sep 2024Filed 30 Jun	Dec 2024Filed 30 Jun	Mar 2025Filed 30 Jun	Jun 2025Filed 21 Feb	Sep 2025Filed 21 Feb	Dec 2025Filed 18 Feb	Mar 2026Filed 22 Apr	Jun 2026Filed 14 Aug	Sep 2026Filed 19 Oct
All shareholders	9,734	9,714	9,681	9,686	9,698	9,737	9,745	9,709	9,712	9,706	9,667	9,719	9,724	9,713	9,772	9,762	9,804	9,866	9,897	9,946	9,944	9,947	9,931	9,928	9,921	9,921	9,919	9,916	9,914	9,904
	6	4	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6
Indian promoters	6	4	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6
	9,728	9,710	9,675	9,680	9,692	9,731	9,739	9,703	9,706	9,700	9,661	9,713	9,718	9,707	9,766	9,756	9,798	9,860	9,891	9,940	9,938	9,941	9,925	9,922	9,915	9,915	9,913	9,910	9,908	9,898
	–	–	–	–	–	–	–	–	–	–	–	–	–	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
Mutual funds	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Banks	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	9,704	9,763	9,753	9,795	9,857	9,888	9,937	9,935	9,938	9,922	9,919	9,912	9,912	9,910	9,907	9,905	9,895
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	9,597	9,655	9,646	9,687	9,750	9,779	9,828	9,825	9,826	9,810	9,806	9,797	9,797	9,793	9,791	9,789	9,782
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	9	9	9	9	7	7	9	9	9	9	9	9	9	9	9	9	9
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	44	43	42	42	43	43	43	43	43	43	43	43	43	43	42	42	42
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	10	10	10	11	12	12	14	14	14	14	15	17	17	18	18	18	18
	–	–	–	–	–	–	–	–	–	–	–	–	–	44	46	46	46	45	47	43	44	46	46	46	46	46	47	47	47	44
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3	3	3	3	3	3	3	3	3	3	3	3	3
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	42	44	40	41	43	43	43	43	43	44	44	44	41

Mahesh Developers promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is MAHESH RATILAL SAPARIYA, 61.78%.

Holder
MAHESH RATILAL SAPARIYAIndividuals and Hindu undivided families	61.78%	25,65,000
RATILAL AMBABHAI SAPARIYAIndividuals and Hindu undivided families	8.67%	3,59,997
ASHOK RATILAL SAPARIYAIndividuals and Hindu undivided families	0.90%	37,500
SURESH RATILAL SAPARIYAIndividuals and Hindu undivided families	0.90%	37,500
JALPA MAHESH SAPARIYAIndividuals and Hindu undivided families	0.04%	1,601
SAVITA RATILAL SAPARIYAIndividuals and Hindu undivided families	0.00%	1

No promoter shares are reported as pledged.

Largest public holders of Mahesh Developers, filing by filing

Per cent, on the same shares as the split above.

Holder	Sep 2023Filed 30 Jun	Dec 2023Filed 30 Jun	Mar 2024Filed 30 Jun	Jun 2024Filed 30 Jun	Sep 2024Filed 30 Jun	Dec 2024Filed 30 Jun	Mar 2025Filed 30 Jun	Jun 2025Filed 21 Feb	Sep 2025Filed 21 Feb	Dec 2025Filed 18 Feb	Mar 2026Filed 22 Apr	Jun 2026Filed 14 Aug	Sep 2026Filed 19 Oct
LAXMIPAT DUDHERIAResident individuals, over ₹2 lakh at face value	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%	1.33%
PATEL MAYUR RAJENDRABHAI .Resident individuals, over ₹2 lakh at face value	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%	1.29%

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.