Balu Forge Industries Limited 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.
BALUFORGE · price
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Promoter Jaspalsingh Prehladsingh Chandock will receive 30,00,000 equity shares (2.63% of share capital) as a gift from his sons Trimaan and Jaikaran, each transferring 15 lakh shares. The transfer is expected on or after June 7, 2025, at nil consideration. As a result, Jaspalsingh's holding rises from 50.39% to 53.02%, while the combined holding of Trimaan and Jaikaran drops from 4.46% to 1.83%. The aggregate promoter group holding remains unchanged at around 54.85%. This transfer is exempt from open offer requirements under Regulation 10(1)(a)(i) as it is an inter-se transfer among immediate relatives within the promoter group.
No impact on overall promoter shareholding or stock price, as shares are merely reshuffled within the promoter family via a gift. The consolidation may give the lead promoter more voting control, but does not change the company's fundamentals or public float.