Disclosure under Regulation 10(6) of SEBI(SAST) Regulation, 2011 received from Promoter of the company.
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CIAN Agro Industries has disclosed an inter-se transfer of promoter shares following a Scheme of Amalgamation approved by NCLT Mumbai on May 7, 2025, effective May 24, 2025. Five promoter entities — Avinash Fuels, Purti Marketing, Greenedge Constructions, Nagpur Sugars, and Purti Contract Farming — are merging into Chaitanya Constructions & Builders Pvt Ltd (CCBPL), another promoter. As a result, CCBPL's stake in CIAN Agro surged from 7.68% (21.50 lakh shares) to 66.88% (1.19 crore shares), acquiring a total of 59.20% of diluted share capital. Share purchase prices varied widely: Rs 39.93/share for Avinash Fuels, Rs 0.22/share for Purti Marketing, and Rs 10/share for Greenedge and Purti Contract Farming. Since this is an inter-se promoter transfer, it is exempt from the mandatory open offer under Regulation 10(1)(a)(ii).
No open offer is triggered for public shareholders because this is an internal promoter restructuring — the ultimate promoter group remains unchanged, just consolidating into a single entity (CCBPL). No new money enters the stock and no shareholder action is required; the share price is unlikely to move on this news alone.