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Ajesh Raithatha has emerged as a substantial shareholder in Monvia Limited (ACN 685 591 280), an ASX-listed entity, after acquiring 5,000,000 fully paid ordinary shares, representing 5.31% of the company’s voting power. This substantial holding was established on 24 March 2025, with the official notice submitted on 24 July 2026. The shares are held via two family trusts alongside Raithatha’s direct personal holdings, with purchases made between March and May 2025.
Key Highlights
- Ajesh Raithatha holds 5,000,000 fully paid ordinary shares in Monvia Limited (MNV), constituting a substantial shareholding
- The stake accounts for 5.31% of total voting rights as of 24 March 2025
- Shares are held through SKR & Sons Pty Ltd ATF SKR Family Trust (3,750,000 shares) and DurgaShakkti Pty Ltd ATF DurgaShakkti Family Trust (1,250,000 shares), with additional direct holdings by Raithatha
- Acquisitions occurred between 24 March and 7 May 2025, with a total cash outlay of $127,500 disclosed for purchases in the four months prior to achieving substantial holder status
Family Trusts Form the Core of Raithatha’s Shareholding Structure
Ajesh Raithatha’s substantial interest in Monvia Limited is held through multiple entities designed to manage his beneficial ownership. The principal vehicle is SKR & Sons Pty Ltd, trustee of the SKR Family Trust, holding 3,750,000 fully paid ordinary shares. This represents the majority of his investment in Monvia Limited via a family trust arrangement.
The secondary entity, DurgaShakkti Pty Ltd, trustee of the DurgaShakkti Family Trust, holds 1,250,000 fully paid ordinary shares. Both companies operate from addresses in Darch, Western Australia—SKR & Sons at 37 Wicklow Circle and DurgaShakkti at 39 Wicklow Circle. Raithatha serves as director and shareholder of both companies and is a beneficiary of both trusts, consolidating control over his Monvia Limited holdings through these family trust structures.
Key Acquisition Milestone on 24 March 2025
The substantial shareholder status was officially established on 24 March 2025 when Raithatha, via SKR & Sons Pty Ltd ATF SKR Family Trust, crossed the 5% ownership threshold. On this date, SKR Family Trust acquired 2,500,000 fully paid ordinary shares for $2,500 cash. This acquisition marked a significant entry into Monvia Limited’s capital base and initiated a coordinated share acquisition strategy across multiple entities.
The nominal cash consideration of $2,500 for 2,500,000 shares suggests the shares may have been acquired at a substantial discount or under specific company arrangements. The initial substantial holder notice was filed on 24 July 2026, approximately 16 months after crossing the threshold, complying with Corporations Act 2001 disclosure timelines.
Additional Share Purchases in May 2025
Following the March acquisition, further purchases were made in May 2025. On 7 May 2025, SKR & Sons Pty Ltd ATF SKR Family Trust acquired an additional 1,250,000 shares for $62,500, while DurgaShakkti Pty Ltd ATF DurgaShakkti Family Trust simultaneously acquired 1,250,000 shares for the same amount.
These May acquisitions increased Raithatha’s total Monvia Limited shareholding to 5,000,000 shares across the two trusts. The combined cash consideration of $125,000 for these purchases indicates a higher per-share price compared to the March acquisition, reflecting possible share price appreciation or differing acquisition terms. The total disclosed cash outlay for acquisitions in the four-month period prior to becoming a substantial holder is $127,500.
Voting Power and Shareholding Percentage
The 5,000,000 fully paid ordinary shares held by Raithatha and his associates represent 5.31% of Monvia Limited’s total voting power. This figure is calculated by dividing the votes attached to these shares by the company’s total votes, in accordance with the Corporations Act 2001. Surpassing the 5.31% voting power threshold classifies Raithatha as a substantial holder, triggering formal disclosure requirements with the company and ASX.
Raithatha maintains voting control through his roles as director and shareholder of SKR & Sons Pty Ltd and DurgaShakkti Pty Ltd, and as beneficiary of both family trusts. This structure consolidates his voting influence over the 3,750,000 shares held by SKR Family Trust and 1,250,000 shares held by DurgaShakkti Family Trust, totaling 5,000,000 votes or 5.31% voting power as disclosed.
Relevant Interest Under Corporations Act 2001
Raithatha’s relevant interest in the 5,000,000 fully paid ordinary shares is established under multiple provisions of the Corporations Act 2001. The 3,750,000 shares held via SKR & Sons Pty Ltd ATF SKR Family Trust and the 1,250,000 shares via DurgaShakkti Pty Ltd ATF DurgaShakkti Family Trust confer relevant interest under section 608(1)(a), which recognizes a person as having relevant interest if they hold the securities.
His personal shareholding also establishes relevant interest under sections 608(1)(b), (c), and 608(3)(b), which relate to the power to exercise or control voting rights or disposal powers over the securities. The notice confirms Raithatha’s relevant interest is held through his directorships, shareholdings, and beneficiary status within the family trust entities, fulfilling legislative control requirements.
Associate Relationships and Family Trust Governance
The disclosure clarifies associate relationships between Raithatha and the two private companies holding his substantial Monvia Limited interests. He is director and shareholder of SKR & Sons Pty Ltd (ACN 606 401 549) and beneficiary of the SKR Family Trust, and similarly holds these roles with DurgaShakkti Pty Ltd (ACN 680 582 405) and the DurgaShakkti Family Trust.
Under section 9 of the Corporations Act 2001, these entities are associates of Raithatha due to his control roles. Consequently, shares held by SKR & Sons Pty Ltd and DurgaShakkti Pty Ltd are aggregated with any shares Raithatha holds directly for determining substantial holder status. The family trust structure offers administrative efficiency while preserving consolidated control of shareholding and voting rights in Monvia Limited.
Shareholding Timeline and Notice Submission
Raithatha’s Monvia Limited shareholding timeline begins on 24 March 2025 with the initial acquisition through SKR & Sons Pty Ltd ATF SKR Family Trust, marking his substantial holder status. This was followed by additional acquisitions on 7 May 2025 by both trust entities. The formal notice of initial substantial holder was lodged on 24 July 2026, disclosing his position to the market.
Per section 671B of the Corporations Act 2001, substantial holders must lodge notices within two trading days of crossing the 5% threshold. The timing of Raithatha’s notice filing aligns with regulatory requirements, though the extended gap may reflect the recognition date of substantial holder status or notice triggering events under the law.
Monvia Limited Overview and ASX Listing
Monvia Limited (ACN 685 591 280) is an Australian Securities Exchange-listed company in which Raithatha has acquired a substantial interest. Incorporated under the Corporations Act 2001, the company’s business operations, industry focus, and strategic plans are not detailed in the substantial holder notice, which is limited to shareholding disclosures.
The notice confirms Monvia Limited’s issued capital includes at least 94,087,500 fully paid ordinary shares, inferred from Raithatha’s 5.31% voting power equating to 5,000,000 shares. The company’s capital structure consists of a single class of fully paid ordinary shares with equal voting rights. Future announcements are expected to provide insights into Monvia Limited’s strategic direction and the impact of Raithatha’s substantial holding on governance and decision-making.
Regulatory Disclosure and Ongoing Substantial Holder Obligations
The initial substantial holder notice filed by Raithatha complies with mandatory disclosure under section 671B of the Corporations Act 2001. This legislation requires any party acquiring 5% or more voting power in a company to lodge a notice within two trading days, detailing voting power, relevant interests, registered holders, and acquisitions over the prior four months.
Raithatha’s substantial holder status entails ongoing disclosure duties. Any changes in his voting power crossing statutory thresholds (e.g., 5%, 10%, 15%) must be reported through updated notices. Additionally, transactions involving Monvia Limited securities by Raithatha or his associates may trigger further disclosure requirements. Investors should monitor these filings for updates on Raithatha’s shareholding and influence within Monvia Limited.
