The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajinder Singh Chadha
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Mr. Rajinder Singh Chadha, a promoter of Chadha Papers Limited, has disclosed under SEBI SAST Regulation 29(2) that he acquired 13,88,590 equity shares (about 13.61% of paid-up capital) from Mrs. Jatinder Kaur Chadha, another promoter, by way of gift through an off-market transfer. Post this acquisition, his holding in the company rose from 32,71,254 shares (32.06%) to 46,59,844 shares (45.67%). Total share capital remains unchanged at Rs. 10.20 crore (1,02,04,040 equity shares of Rs. 10 each). As the transfer is purely between promoters via gift, no new external capital is involved and total promoter shareholding remains unchanged.
This is an internal reshuffle within the promoter family with no impact on total promoter shareholding or cash flows of the company. Existing public shareholders should not see any change in control or dilution; however, the acquirer's individual holding has crossed the 25% mark, which could attract additional SEBI SAST compliance requirements going forward.