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 Alok Bansidhar Shriram is set to acquire 65,53,596 shares (7.53% of share capital) from his wife Karuna Shriram, daughter Kanika Shriram, and son Rudra Shriram as an inter-family gift, at NIL consideration. The acquisition is scheduled for 13 March 2026. After the transfer, the combined holding of Alok Shriram along with persons acting in concert (PACs) rises from 42.58% to 50.11%, crossing the 50% mark. The transaction is exempt from making an open offer under Regulation 10(1)(a)(i) as it qualifies as an inter-se transfer between immediate relatives. The stated rationale is consolidation of family holding. Notably, the company only got listed on the exchange on 17 February 2026, making this one of its earliest SAST disclosures.
No cash changes hands since this is a gift transfer, so there is no direct financial impact. For shareholders, it means the promoter family's effective control strengthens modestly and crosses 50%, signalling long-term family commitment to the company despite the very recent listing.