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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GEE Limited has informed the BSE about an inter-se transfer of shares within its promoter group, involving up to 1,21,86,998 equity shares (46.89% of paid-up capital). The shares will move from nine promoter sellers (including Vidya Finvest Limited and several Agarwal family members) to four promoter acquirers (Umesh Agarwal, Payal Agarwal, Om Prakash Agarwal, and Jyoti Agarwal). The transaction will be carried out off-market, at a price not exceeding 25% above the 60-day VWAP of ₹132.07 per share, with completion expected on or after May 19, 2025. The transfer is exempt from making an open offer under Regulation 10(1)(a)(ii). Total promoter group holding will remain unchanged at 63.97% (1,66,23,590 shares) before and after the transaction — only the distribution within the promoter group is shifting. Jyoti Agarwal's individual stake rises sharply from 3.82% to 22.81%, while Payal Agarwal moves from 1.01% to 24.91%.
Since this is a reshuffling within the promoter family (inter-se transfer) with no change in total promoter holding, there is no impact on overall promoter control or minority shareholders. The stock price is unlikely to react materially, though it signals family members consolidating shareholding ahead of some planned arrangement under their Memorandum of Understanding.