The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Saraogi Family Trust
BALRAMCHIN · price
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Saraogi Family Trust has acquired 5,24,48,387 equity shares (25.98%) of Balrampur Chini Mills Ltd from Mr. Vivek Saraogi by way of a gift, with no consideration involved. Both the trust and Mr. Vivek Saraogi belong to the Promoter/Promoter Group. The transfer was carried out under an SEBI exemption granted under Regulation 11(5) of the SAST Regulations, allowing it as an inter-se transfer without triggering an open offer. The trust held Nil shares before and now holds 25.98%, while Mr. Vivek Saraogi's stake has correspondingly moved from 25.98% to zero. Importantly, the total shareholding of the Promoter and Promoter Group remains unchanged at the same level.
This is a reshuffling of promoter-held shares within the Saraogi family and does not change the overall promoter group ownership or dilute minority shareholders' interests. The stock price is unlikely to be materially affected as no new money has entered or left the company.