The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Jeanne Marie Desouza, wife of promoter Mr. Ivor Anthony Desouza, will acquire 7,61,972 equity shares (13.8843%) of Evans Electric Limited from her husband by way of a gift at nil price. The transfer qualifies as an inter-se transfer under Regulation 10(1)(a)(i) of SEBI Takeover Regulations and is exempt from the open offer requirement. The stated rationale is an internal family arrangement for the welfare of a family member. Post-transfer, Mr. Ivor Anthony Desouza's holding will drop from 50.33% to 36.44%, while Jeanne Marie Desouza's holding will rise from 0.0001% to 13.88%. The overall promoter group shareholding, control, and management of the company remain unchanged before and after the transaction.
This is a non-commercial internal family reorganisation with no change in total promoter group holding or company control, so it is unlikely to materially impact the stock price. However, investors should note that individual promoter Mr. Ivor Anthony Desouza's personal stake falls below the 50% threshold, which may be relevant for any future threshold-based assessments.