The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shripal Shah
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Shripal S. Shah, a promoter, inherited 6,00,000 equity shares (26.09%) of Mahshri Enterprises Pvt Ltd (MEPL) from the late Mrs. Roopa S. Shah via transmission, with no consideration paid. MEPL is the ultimate promoter holding company, holding 62.45% in Aryaman Financial Services Ltd (AFSL), which in turn holds 74.28% in Aryaman Capital Markets Ltd. As a result, Shripal Shah's stake in MEPL rose from 39.14% (9,00,000 shares) to 65.23% (15,00,000 shares). There is no change in control of the promoter group or the target company, and the direct shareholding of the promoter group in Aryaman Capital Markets remains unchanged at 74.28% (88,97,122 shares). The acquirer claimed exemption from making an open offer under Regulation 10(1)(g) of SEBI SAST Regulations.
This is a routine internal promoter family transmission (inheritance) with no change in ultimate control or direct shareholding of the listed company. There is no impact on minority shareholders and no open offer obligation. The stock price is unlikely to be affected as no new shares entered the market and no consideration changed hands.