The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashok Kumar Modi
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Promoter Ashok Kumar Modi received 7,27,745 equity shares (13.16% of the company) as a gift from his two sons, Madhur Modi and Vasu Modi, across 24-25 September 2025. He got 3,68,000 shares (8.21%) from Madhur Modi on 24 Sept and 3,59,745 shares (8.03%) from Vasu Modi on 25 Sept, at zero price. As a result, Ashok Kumar Modi's holding jumped from 4.91% (2,71,770 shares) to 18.07% (9,99,515 shares), while his sons' holdings dropped to zero. This is an internal family reshuffle, exempt from an open offer under Regulation 10(1)(a)(i) as an inter-se transfer among immediate relatives.
No change in total promoter-family ownership, so no impact on control or minority shareholders. The transfer is a zero-cost gift, so no cash changed hands and no open offer trigger applies. Shareholders should note the consolidation of voting power with the father, which may slightly affect how promoter group decisions are exercised going forward.