The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shripal Shah
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Shripal Shah, a promoter, has inherited 6,00,000 equity shares (26.09% voting rights) in Mahshri Enterprises Pvt Ltd (MEPL), the Ultimate Promoter Holding Company, through transmission from his late mother Mrs. Roopa S. Shah. Post-transmission, Shripal Shah's stake in MEPL rose from 39.14% to 65.23%, while his brother Shreyas Shah continues to hold 21.74%. MEPL holds 62.45% in Aryaman Financial Services Ltd (AFSL), which in turn holds 52.47% in Escorp Asset Management Ltd (the target company). Importantly, the direct promoter group shareholding in Escorp remains unchanged at 67.61% (75,14,999 shares), and there is no change in control of MEPL, AFSL, or the target company.
This is a family-level transmission of shares within the promoter group due to inheritance and does not change the promoter group's effective control or shareholding in Escorp. Shareholders are unlikely to see any material impact on stock price or ownership structure, as the same promoter entities continue to hold the same stake in the company.