The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(i)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Evans Electric Ltd's promoter group member Jeanne Marie Desouza acquired 7,61,972 equity shares (taking her stake from 0.001% to 13.88%) from Mr. Ivor Anthony Desouza, another promoter group member, through an off-market inter-se transfer by way of gift (Nil consideration) on September 19, 2025. The acquisition was carried out under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, which exempts inter-se promoter transfers from open offer requirements, as both parties are immediate relatives and existing promoter group members. The VWAP of the shares over the 60 trading days prior to the September 12, 2025 notice was approximately Rs. 14.29 crore in aggregate value. Required disclosures under Regulation 29(1) and 29(2) of SAST Regulations were duly complied with, and the SEBI filing fee of Rs. 1,50,000 plus GST has been enclosed.
This is a reshuffling of promoter holdings within the family and does not change the total promoter group stake in the company. Since no money changed hands (gift), there is no direct impact on share price, but the acquiring promoter's individual stake has risen substantially to nearly 14%, which could affect future voting dynamics within the promoter group.