Enclosed documents in connection with transfer of shares between promotors.
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Kumbhat Financial Services Ltd has informed BSE about an off-market transfer of 5,25,900 equity shares (9.87% of share capital) among promoter and promoter group members. Managing Director Sanjay Kumbhat is acquiring these shares from 8 other promoter/promoter group entities, including Madhu Kumbhat (1,88,300 shares), Vinay Kumbhat (1,57,300 shares), Dilip Kumbhat (77,400 shares), and others. As a result, Sanjay Kumbhat's stake will increase from 12.46% to 22.33%, while the selling promoters will move to 0% individually. The aggregate promoter and promoter group holding remains unchanged before and after the transfer. The company has obtained prior RBI approval since it is a listed NBFC. The transaction is treated as a private family asset consolidation and is exempt from open offer requirements under SEBI SAST Regulations.
This is an internal reshuffling within the promoter family with no change in total promoter holding, so there is no real impact on the stock price or minority shareholders. It does, however, consolidate more ownership and decision-making power with Managing Director Sanjay Kumbhat.