Deepta Rangarajan�has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
IRIS · price
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Deepta Rangarajan, a Promoter of IRIS Business Services Limited, has acquired 44,72,168 shares (21.77% of diluted share capital) through transmission/inheritance following the demise of fellow Promoter Mr. Subramaniam Swaminathan on May 27, 2025. As a result, her total holding increased from 14,46,052 shares (7.04%) to 59,18,220 shares (28.82%) of the company. The transaction is exempt from the open offer obligation under Regulation 10(1)(g) of SEBI (SAST) Regulations, 2011, as it pertains to transmission, succession, or inheritance. This is a procedural disclosure under Regulation 10(6) and does not involve any market purchase or change in control. Mr. Swaminathan's shares have been fully transferred to Ms. Rangarajan, a nominee and legal heir.
This is a non-market, inheritance-driven transfer between promoters with no open offer obligation. Shareholder structure consolidates within the promoter group, which is largely neutral for retail investors. No immediate impact on stock price is expected since no new shares were issued and no cash transaction occurred.