Millars Machinery Company Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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GMM Pfaudler has informed the exchanges that Millars Machinery Company Pvt. Ltd., a promoter group entity, intends to acquire 25,000 equity shares (0.06% of share capital) from Mrs. Pragna Patel, another promoter group member. The transfer is an off-market inter-se promoter transaction priced at INR 1,400 per share, which is within the 25% cap of the 60-day volume-weighted average market price of INR 1,546. As both parties belong to the promoter group, the aggregate promoter shareholding remains unchanged at 25.18% of the company's paid-up capital. The transaction is exempt from an open offer requirement under Regulation 10(1)(a)(ii).
This is a minor internal reshuffle within the promoter group with no change in total promoter ownership or voting control. Shareholders should see no material impact on stock price or company control, as the aggregate promoter stake stays flat at around 25%.