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, ....
CHEVIOT · price
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Harsh Investments Private Limited, a promoter group entity of Cheviot Company Limited, proposes to acquire up to 4,00,000 ordinary shares (6.8471% of share capital) from another promoter, Mr. Harsh Vardhan Kanoria, via an inter-se transfer through the stock exchange block deal window. After the deal, Harsh Investments' stake in Cheviot will rise from 63.76% to 70.61%, while Mr. Kanoria's stake will drop from 7.29% to 0.44%. The 60-day VWAP on NSE is ₹1,184.92 per share, and the acquisition price will not exceed 25% above this benchmark. The total promoter group shareholding remains unchanged at 74.88%, and no open offer is triggered as the transfer qualifies for exemption under Regulation 10(1)(a)(ii).
This is a reshuffling of shares within the promoter family and does not change the overall promoter control of the company. The stock price is unlikely to be materially impacted since no new external buying or selling pressure is introduced, and the exempt inter-se transfer means no mandatory open offer for minority shareholders.