Promoter Lalitadevi Reniwal to receive 3.82% shares as gift from son
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On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and in line with its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mrs. Lalitadevi Reniwal, Promoter of Inducto Steel, will receive 1,53,375 equity shares (3.82% of share capital) as a gift from her son Mr. Rajeev Reniwal, also a Promoter. The inter-se transfer between immediate relatives is exempt from open offer under SEBI Regulation 10(1)(a). Post-transfer, Lalitadevi's holding rises to 60.92% from 57.10%, while Rajeev's drops to 8.40% from 12.22%. No cash consideration involved.
Internal promoter family reshuffle via gift; total promoter stake unchanged, no open offer triggered, no cash impact on the company.