Arun Kumar Saraf 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.
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Mr. Arun Kumar Saraf, a promoter of Asian Hotels (East) Limited, has informed the exchanges about a proposed acquisition of 20,26,520 equity shares (11.72% of share capital) from Mrs. Ratna Saraf, also part of the promoter group. The transfer is by way of gift at nil consideration and is classified as an inter se transfer among immediate relatives under SEBI's takeover regulations, exempting the acquirer from making an open offer. After the transaction, Arun Kumar Saraf's stake will rise from 0.08% to 11.80%, while Mrs. Ratna Saraf's stake will fall from 23.44% to 11.72%. The combined promoter group holding increases from 42.19% to 53.91% of the company. The acquisition is expected to be completed on or before March 31, 2026.
This is a reallocation of shares within the promoter family and does not change the overall promoter group's effective control, so it is largely neutral for minority shareholders. No open offer is triggered, and no cash is involved since the shares are being gifted.