The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Mr. Gurmukh Singh Thakral, a promoter group member of Meyer Apparel Ltd, will acquire 88,89,000 equity shares (11.04% of paid-up capital) from TIL Investments Pvt. Ltd., another promoter entity, at Rs. 2.21 per share through an off-market inter-se transfer. This is an internal reshuffling within the promoter group and is exempt from the open offer requirement under Regulation 10(1)(a)(ii). Post-transaction, Mr. Thakral's holding will rise from 1.80% to 12.84%, while TIL Investments will exit completely (from 11.04% to 0%). The transaction is expected to take place on or after 28th January 2026. The acquisition price is stated to be within 25% of the prescribed fair value. Overall promoter group shareholding remains unchanged as this is merely a transfer within the group.
No change in total promoter group ownership or control of the company, so neutral for minority shareholders. The low transaction price (Rs. 2.21) is based on the infrequently-traded determination method and does not reflect market price. Existing shareholders may view this as a routine internal restructuring with no open offer trigger.