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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Awaiting price reaction for this filing.
Promoter Erramilli Venkatachalam Prasad acquired 14,48,886 equity shares (2.79% of share capital) from fellow promoter Mrs. Lily Bhagvandas Rodrigues on January 1, 2026, through an inter se transfer as a gift between immediate relatives. As a result, the acquirer's holding rose from 22.25% to 25.04%, while the seller's holding fell from 27.83% to 25.04%. The transaction qualifies for exemption from the open offer obligation under Regulation 10(1)(a)(i) of SEBI's Takeover Regulations, with no change in control. The disclosure was filed four days late (on January 5, 2026) due to inadvertent oversight, and the promoter has requested condonation of the delay while assuring future timely compliance.
This is a family-level reshuffle of promoter holdings with no change in control and no money involved, so there is no material impact on minority shareholders or stock price. The key takeaway is that combined promoter concentration remains roughly the same, and the only risk is regulatory scrutiny over the late filing rather than any business fundamentals.