Murudeshwar Ceramics Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
MURUDCERA · price
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Murudeshwar Ceramics Limited informed the exchanges about the transmission of 26,808 equity shares from the demat account of late Shri Rama Nagappa Shetty (a deceased promoter) to his son Shri Satish Rama Shetty, who is the Chairman & Managing Director and a promoter of the company. As a result, Satish Rama Shetty's shareholding increased from 6,37,559 shares (1.053%) to 6,64,367 shares (1.097%) of the total share capital. The transaction qualifies for exemption under Regulation 10(1)(g) of SEBI (SAST) Regulations, 2011, which covers transmission of shares to legal heirs upon death of a holder, so no open offer obligation is triggered. This is a non-market, intra-family transfer of shares due to inheritance.
This is a routine transmission of shares within the promoter family following the death of a promoter and does not involve any market purchase or change in ultimate promoter control. There is no material impact on shareholders or stock price, as the promoter group retains the same shares — only the holder's name changes.