Geekay Wires Limited has informed regarding Disclosure of material issue
GEEKAYWIRE · price
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Geekay Wires Limited disclosed that Mrs. Saroj Bata, an immediate relative of a Director and part of the Promoter group, received 6,40,000 shares by way of gift from Mrs. Anju Dhanuka, who is also a relative of the Director and promoter group. The transfer is an intra-family gift between persons connected to the promoter entity. The company filed this disclosure under SEBI (LODR) Regulations, 2015 (Regulation 30) and SEBI Prohibition of Insider Trading Regulations (Regulation 7(2)). No consideration was involved as this was a gift transfer.
This is an intra-promoter group share transfer via gift with no change in effective promoter holding, so it is not expected to directly impact the stock price or shareholder equity. However, any subsequent disposal of these gifted shares could signal a change in promoter group structure.