Jaspalsingh Prehladsingh Chandock 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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Promoter Jaspalsingh Prehladsingh Chandock will receive 30,00,000 equity shares (2.63% of share capital) as a gift from his immediate relatives, Trimaan Jaspalsingh Chandock (15 lakh shares) and Jaikaran Jaspalsingh Chandock (15 lakh shares), on or after June 7, 2025. The shares are being transferred at nil price (by way of gift deed), and no open offer obligation is triggered since the transfer falls under the exemption for inter-se transfers among immediate relatives under SEBI Takeover Regulations. After the transfer, Jaspalsingh Chandock's individual stake will rise from 50.39% (5.74 crore shares) to 53.02% (6.04 crore shares), while the sellers' combined holding drops from 4.46% to 1.83%. The total promoter and promoter group holding remains unchanged.
No impact on minority shareholders or stock price expected since this is an internal reshuffle within the promoter family with no change in aggregate promoter holding and no cash outflow involved. It simply consolidates voting power further in the hands of the main promoter.