Promoter gifts 5.51 lakh shares to immediate relative
Price
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Awaiting price reaction for this filing.
Mahalaxmi Seamless board noted a proposed off-market inter-se transfer of 5,51,412 equity shares (0.44% of capital) by way of gift from Mr. Madhavprasad Govindram Jalan to his son Mr. Vivek Madhavprasad Jalan, under SEBI Regulation 10(1)(a)(i). Post-transfer, Vivek's stake rises from 9.62% to 20.06%, while Madhavprasad's drops to nil. No open offer triggered as it is between immediate relatives and combined holding stays within the 25% exemption limit. Acquisition expected on or after 15 July 2026.
Internal promoter family reshuffle via gift. No change in total promoter holding. Exempt from open offer. Neutral for stock price.