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 has filed a disclosure under Regulation 10(6) of SEBI's Takeover Code for the transmission of 26,808 equity shares within the promoter family. The shares were held by late Shri Rama Nagappa Shetty, a promoter, and are being transmitted to his son Shri Satish Rama Shetty, the company's Chairman and Managing Director. As a result of this transmission, the acquirer's shareholding rises from 637,559 shares (1.053%) to 664,367 shares (1.097%) of the company. The transaction is exempt from making an open offer under Regulation 10(1)(g), which covers inter-se transfers among promoters. The filing is essentially an administrative, non-cash transfer triggered by the death of the original shareholder, not a market purchase.
No material impact on shareholders or stock price. This is a routine paper-driven transfer of shares within the promoter family due to inheritance. Total promoter control of the company remains unchanged, and no open offer obligation is triggered.