Shailesh Bhandari and Western India Speciality Hospital Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ELECTHERM · price
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Awaiting price reaction for this filing.
Promoter Shailesh Bhandari and promoter group entity Western India Speciality Hospital Limited have filed the annual Regulation 31(4) declaration confirming no new encumbrances (pledges) on shares beyond what was already disclosed during FY ending 31st March 2025. As part of a Family Settlement Agreement (FSA) dated 29th March 2025 between the Mukesh Bhandari Family and the Shailesh Bhandari Family, Mukesh Bhandari is to transfer 8,09,500 equity shares (6.35%) to Shailesh Bhandari via off-market inter-se transfer, with a voting agreement already executed in Shailesh Bhandari's favour. Additionally, Mrs. Jyoti Bhandari has executed a gift deed for 2,01,525 equity shares to Mrs. Reema Bhandari, with the actual transfer still under process.
This is an internal promoter-family restructuring with no new pledging activity, so it should not materially affect share price. However, Shailesh Bhandari's effective stake in Electrotherm will rise by 6.35% once the inter-se transfer completes, consolidating control within his branch of the promoter family.