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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Awaiting price reaction for this filing.
Pawan Kumar Modi, a promoter of National General Industries Ltd, has informed the BSE about a proposed acquisition of 9,99,515 equity shares (22.30% of total equity) from his brother Ashok Kumar Modi as a gift (without any consideration), under Regulation 10(1)(a)(i) of SEBI Takeover Regulations, which exempts such inter-se transfers between immediate relatives from the open offer requirement. Post this transaction, Pawan Kumar Modi's holding will rise from 6,21,556 shares (13.87%) to 16,21,071 shares (36.16% of paid-up equity / voting capital). The proposed date of acquisition is on or after 8th June 2026. Ashok Kumar Modi will exit his shareholding entirely, going to zero. The filing is part of a series of similar intra-family gift transfers among promoter group members (also seen in Sept 2025), with no change in total promoter group shareholding or cash flow involved.
This is a non-cash, internal promoter group reshuffle — the overall promoter shareholding in the company remains unchanged, so there is no dilution or takeover concern for outside shareholders. A single promoter consolidating a larger voting block (up to 36.16%) may increase his influence over company decisions but poses no immediate price impact since no shares are being traded in the market.