The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veqarul Amin & Rumana Amin
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Awaiting price reaction for this filing.
Promoters Veqarul Amin and Rumana Amin received 4,29,44,134 equity shares (39.78% of the company) from other promoter family members as a gift on 27th and 28th March 2025. Veqarul Amin's stake jumped from 16.56% to 47.92%, while Rumana Amin's stake rose from 2.44% to 10.86%. The transfer was between promoters only, so the total promoter group holding remains unchanged at 58.78%. No cash was exchanged as this was a gift under SEBI Takeover Regulations. Eight promoter sellers gave away shares, including Farha Fatima (10.60%), Tanveerul Amin (4.16%), Mubashirul Amin (4.26%) and Umairul Amin (4.26%).
This is a reshuffling within the promoter family rather than a change in ownership of the company, so there is no impact on the total promoter control (stays at 58.78%). However, it concentrates voting power heavily in Veqarul Amin, who now sits just below the 50% mark, making him the dominant individual shareholder. For retail investors, the share price is unlikely to be directly affected since no shares changed hands in the market.