The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(g) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Mr. Jignesh Ramniklal Sheth, Promoter and Managing Director of Multiplus Holdings Ltd, has acquired 4,69,000 equity shares (24.95% of paid-up capital) from his late wife Late Krishna Jignesh Sheth through transmission of shares (due to her demise on 9th December 2013). As a result, his individual shareholding in the company has increased from 4,66,500 shares (24.81%) to 9,35,500 shares (49.76%). The acquisition price was Nil as this is a transmission of shares, not a market transaction. The transaction was exempted from open offer requirements under Regulation 10(1)(g) of SEBI (SAST) Regulations, 2011, as it qualifies as an inter-se transfer between immediate relatives (husband and wife).
No material impact on shareholders or stock price as this is a routine transmission of shares between immediate family members within the promoter group. The aggregate promoter and promoter group shareholding remains unchanged at approximately 57.64% — only the individual holding has shifted within the family due to the demise of a promoter. No change in control of the company.