The Exchange has received the disclosure under Regulation 29(1) & 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pankaj Desai
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Pankaj Pruthu Desai, a promoter of Desco Infratech Limited, acquired 23,82,354 equity shares (31.04%) from Indiraben Pruthubhai Desai, another promoter group member. The acquisition was through an off-market inter-se transfer by way of gift with no monetary consideration involved. Before the transaction on 07.04.2026, Pankaj Desai held only 15,000 shares (0.20%). After the acquisition, his holding increased to 23,97,354 shares representing 31.24% of the company's total equity share capital of 76,76,008 shares. The filing is under SEBI SAST Regulations which mandate disclosure for substantial acquisition of shares.
This represents a significant consolidation of promoter holding, with one promoter group member's stake being transferred to another. The transaction involves no cash outflow and appears to be a family-level gift transfer, which may indicate internal restructuring of the promoter group.