Chintan Parikh Family Trust No.1, Chintan Parikh Family Trust No.2, Chintan Parikh Family Trust No.3, Chintan Navnitlal Parikh Trustee has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ASHIMASYN · price
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The three Chintan Parikh Family Trusts are acquiring 2,97,40,000 shares (about 14.995% of Ashima Limited's share capital) from Mrs. Shefali Chintan Parikh, who is part of the promoter group. The transfer is without any cash consideration — it's a family settlement to move shares into the trusts. Each of the three trusts will end up holding exactly 4.99% of the company, deliberately structured just below the 5% regulatory disclosure threshold. Because this is an inter-se transfer within the promoter family under SEBI's Takeover Regulations (Regulation 10(1)(a)(ii)), no open offer to public shareholders is required. The total promoter group holding stays roughly the same at around 73% of the company, with only a minor change due to rounding.
This is purely an internal family restructuring with no change in overall promoter control and no new money entering the company. Retail shareholders are unaffected — no dilution, no change in promoter identity, and no open offer triggered. The 4.99% per-trust structuring is a common estate-planning move to keep each entity below mandatory disclosure limits.