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Awaiting price reaction for this filing.
Evans Electric Ltd disclosed that Ms. Jeanne Marie Desouza (Promoter Group) acquired 7,61,972 equity shares (13.88% of diluted share capital) from Mr. Ivor Anthony Desouza (Director) through an off-market inter-se transfer by way of gift on September 19, 2025. The transfer was at Nil consideration (gift) and falls under the exemption under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011, meaning no open offer is triggered. Post-transaction, Ms. Desouza's holding rose from 8 shares (0.0001%) to 7,61,980 shares (13.88%), while Mr. Desouza's holding reduced from 27,61,972 shares (50.33%) to 20,00,000 shares (36.44%). The aggregate Promoter and Promoter Group holding remains unchanged before and after the transaction.
This is an internal family restructuring among promoter group members via a gift, with no change in total promoter holding, no cash outflow, and no open offer obligation. It is a neutral event for retail shareholders as there is no impact on company fundamentals, ownership concentration, or float.