Intimation under Regulation 10(6) of SEBI (SAST) Regulations 2011
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Apurva Investment Company Limited, part of the promoter group, acquired 5,90,468 equity shares (21.27% of paid-up capital) from four other promoter-group entities — Milan Dalal, Tropical Securities and Investments Pvt Ltd, Harbinger Trading Company Pvt Ltd, and Pursarth Trading Company Pvt Ltd — on May 23 and May 28, 2025, at Rs 5 per share. As a result, Apurva's stake rose from 2.25% (62,502 shares) to 23.52% (6,52,970 shares), while the four transferors now hold NIL shares in the company. This is a reallocation within the promoter family and does not change the overall promoter holding in the company. No open offer is triggered since the exemption under Regulation 10(1)(a)(ii) applies to inter-se transfers among qualifying persons.
Total promoter ownership remains unchanged — the shift is just a reshuffle within the promoter group, so there is no change in control or public shareholding. Retail investors should see this as a neutral, internal housekeeping event with no direct impact on share price or voting power.