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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Ashok Kumar Modi, a promoter of National General Industries Ltd, has informed BSE about an inter-se transfer within the promoter family under SEBI Takeover Regulations. He proposes to acquire 7,27,745 equity shares (13.16% of the company) as a gift (no consideration) from his two sons: 3,59,745 shares (6.51%) from Vasu Modi and 3,68,000 shares (6.65%) from Madhur Modi. The transaction is exempted from open offer under Regulation 10(1)(a)(i) as an inter-se transfer between immediate relatives. After the transfer, Ashok Kumar Modi's stake will rise from 2,71,770 shares (4.91%) to 9,99,515 shares (18.07%). The attached annexures show a related earlier gift on 11 September 2025, where another promoter Pawan Kumar Modi received 3,49,786 shares (6.33%) from Sangeeta Modi and Shakuntla Modi, taking his holding from 4.91% to 11.24%. Total promoter group holdings remain unchanged at 36,28,902 shares since these are internal family gifts.
This is purely an internal reshuffle within the Modi promoter family and does not change the combined promoter group holding in the company. No money changes hands, no open offer is triggered, and there is no impact on the stock price or non-promoter shareholders.