Keynote Financial Services Limited has informed the Exchange regarding 'Intimation under Regulation 10(5) of SEBI (Substantial Acquisition of Shares andTakeovers) Regulations, 2011'.
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Mr. Vineet Suchanti, a promoter of Keynote Financial Services, has informed the exchange about acquiring 1,45,040 equity shares (41.44%) of NSS Digital Media Limited, which itself holds 55.91% in Keynote. Of these, 44,800 shares (12.80%) will come from Mr. Vivek Suchanti as a gift transfer, and 1,00,240 shares (28.64%) from Nirmal Suchanti HUF through dissolution and partition of the HUF. The transaction is being done at nil consideration and is exempt from the open offer requirement under Regulation 10(1)(a)(i) and (ii) of SEBI takeover rules. The aggregate promoter and promoter group shareholding in Keynote remains unchanged at 55.91% before and after the transaction. Post this internal reshuffle, Mr. Vineet Suchanti's stake in NSS Digital Media rises to 99.93% from 58.49%, giving him indirect control of around 55.87% of Keynote.
This is an internal reshuffle within the promoter family and does not change the total promoter holding in the company, so there is no direct impact on minority shareholders. The exemption from open offer means no extra shares will hit the market and the shareholding structure stays the same from the public's perspective.