Disclosure received by the Company from Sunshine Fibre Private Limited ("Acquirer") in respect of proposed acquisition under regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares ....
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Awaiting price reaction for this filing.
Sunshine Fibre Private Limited, a promoter-group entity of Devinsu Trading Limited, will acquire 91,493 shares (18.3% of share capital) from three existing promoters — Mrs. Laxmi Jain, Mrs. Sushma Jain, and Mr. Ankit Jain — at Rs. 339 per share. The transaction is an internal promoter-family rearrangement and qualifies for exemption from making an open offer under Regulation 10(1)(a)(iii) of SEBI Takeover Rules. Post-deal, Sunshine Fibre will hold 18.3% of Devinsu while the three sellers will exit to zero holding. The acquirer has confirmed the price is within SEBI-permitted limits and all disclosure conditions have been complied with.
This is a reshuffling of promoter holdings within the same group, so there is no change in overall promoter control and no mandatory open offer for minority shareholders. Short-term stock price impact is likely limited since it is not a new external acquisition.