The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Mr. Padmanaban Krishnamoorthy, a promoter of Genesis IBRC India Limited, has informed the BSE that he plans to acquire 64,33,700 equity shares (about 49.49% of the company's share capital) from Ms. V Varalakshmi, his wife and fellow promoter, by way of a gift. The transaction, scheduled on or after January 16, 2026, is treated as an inter-se transfer within the promoter family and is exempt from making an open offer under SEBI Takeover Regulation 10(1)(a)(i). As a result, Mr. Krishnamoorthy's individual stake will jump from 12.59% to 62.08%, while Ms. Varalakshmi's stake will drop from 61.58% to 12.09%. The combined promoter group holding stays unchanged at 74.17%, meaning no change in overall promoter control.
This is an internal reshuffle within the promoter family and does not change the total promoter shareholding, so there is no change in control and no open offer obligation. Shareholders should see no immediate impact on the stock price, as the transfer is a non-cash gift between immediate relatives already counted as promoters.