The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gordhan P Tanwani & Others
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Rahul G. Tanwani has transferred 1,26,00,000 equity shares (24% of total share capital) of Baba Arts Ltd to his father Gordhan P. Tanwani by way of a gift in an off-market inter-se transfer. As a result, Gordhan P. Tanwani's holding increased from 2,66,00,000 shares (50.67%) to 3,92,00,000 shares (74.67%), while Rahul G. Tanwani's holding dropped from 24% to nil. The combined promoter group holding remains unchanged at 74.69% of the company's equity, since both transferor and transferee belong to the promoter group. The total share capital of the company is 5,25,00,000 equity shares. This is essentially a family reshuffle within the promoter group with no change in overall promoter control.
No impact on overall promoter control or public shareholders — the total promoter stake stays at 74.69%. The transfer consolidates shares in the senior family member's name, which is a routine internal family arrangement and unlikely to affect the stock price.