Inuus Developers Private Limited and Valerian Real Estate 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.
Awaiting price reaction for this filing.
Indiabulls Enterprises Limited's promoter group is restructuring shareholding through an inter-se transfer between promoter entities. Zwina Infrastructure Private Limited (holding 21.04% or 4,17,25,150 shares) will transfer its entire stake equally to two other promoter entities — Inuus Developers Private Limited and Valerian Real Estate Private Limited — each receiving 2,08,62,575 shares (10.52%). The transfer is scheduled between May 22 and May 26, 2025, at a price not exceeding 25% above the 60-day VWAP of INR 16.95. The acquirers' stakes will rise from 5.44% to 15.96% each, while Zwina Infrastructure will exit completely. The transaction is exempted from the open offer requirement under Regulation 10(1)(a)(ii) as it is a restructuring within the existing promoter group, and total promoter group holding remains unchanged at 36.32%.
This is purely an internal promoter group reshuffle with no change in total promoter ownership or any obligation for an open offer to public shareholders. Likely to be a non-event for the stock price, though it concentrates promoter stakes in two specific entities.