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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Promoter Mr. Madhav Bansidhar Shriram is set to receive 46,43,075 shares (5.34% of the company's share capital) as a gift from his wife Divya Shriram and sons Uday Shriram and Rohan Shriram on 13 March 2026 at NIL consideration. This is an inter-se transfer between immediate relatives under Regulation 10(1)(a)(i) of SEBI Takeover Regulations, which exempts it from the open offer requirement. As a result, Mr. Madhav Bansidhar Shriram's individual holding will rise from 38,947,040 shares (44.77%) to 43,590,115 shares (50.11%), pushing his stake past the 50% mark. The transfer is aimed at consolidating family holdings within the promoter group, which collectively already holds 50.11% of the company.
This is a neutral, internal promoter-group restructuring with no cash transaction or change in overall promoter ownership in the company. The only material effect is a shift in shareholding within the promoter family, with one member crossing the 50% individual holding threshold. Shareholders should note no dilution or capital change, and the overall promoter control remains unchanged.