The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sushma Chhajer & PACs
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Awaiting price reaction for this filing.
Gujarat Craft Industries has disclosed a transmission of 14,03,000 equity shares (28.70% of the company) from the estate of Late Ashok Kumar Chhajer to Ms. Sushma Chhajer, classified as acquisition by way of succession/inheritance under SEBI Regulation 10(1)(g). As a result, Ms. Sushma Chhajer's individual holding jumped from 5,19,440 shares (10.63%) to 19,22,440 shares (39.33%), making her the single largest individual shareholder. The total promoter and promoter group holding remains unchanged at 36,08,990 shares (73.83%), confirming this is only an internal reshuffle within the promoter family. No open offer is triggered due to the inheritance exemption.
No change in overall promoter control or total promoter group stake (still 73.83%), so this is largely a neutral event for minority shareholders. However, the death of a major promoter (28.70% holder) and concentration of voting power in one individual (39.33%) could raise governance and succession-planning concerns for retail investors to monitor.