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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Pankaj Pruthu Desai, a promoter of Desco Infratech Limited, has informed BSE about a proposed off-market inter-se transfer of 23,82,354 equity shares (31.04% of share capital) by way of gift from his mother Indiraben Pruthubhai Desai (also part of the promoter group) to himself. The transfer is exempt from the open offer requirement under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011, as it is between immediate relatives within the promoter group. Post-transaction, Pankaj Pruthu Desai will hold 31.04% while Indiraben Pruthubhai Desai's holding will reduce to nil. The shares are currently under lock-in under SEBI (ICDR) Regulations, and the acquirer has undertaken to honour the remaining lock-in period. The transaction is scheduled to be executed on or after 20th November 2025.
This is an internal reshuffle within the promoter family with no change in total promoter group holding, so there is no impact on overall control or minority shareholders. Since the shares are received as a gift without consideration, no cash transaction is involved, and no open offer obligation is triggered. Retail investors should note that the consolidated promoter ownership remains unchanged.