The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pawan Kumar Modi
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Pawan Kumar Modi acquired 9,99,515 equity shares (22.30%) of National General Industries Ltd from his brother Ashok Kumar Modi on 8 June 2026, as a gift (no consideration paid). The transaction qualifies for an exemption from the open-offer requirement under SEBI's Takeover Regulations since it is an inter-se transfer between immediate relatives within the promoter family. Following this transfer, Pawan Kumar Modi's stake rises from 13.87% (6,21,556 shares) to 36.16% (16,21,071 shares), while Ashok Kumar Modi ceases to hold any shares in the company. The required advance intimation under Regulation 10(5) was filed with BSE on 1 June 2026, within the prescribed timeline.
This is a reshuffling of shares within the promoter family rather than a change in overall promoter control, so it should not materially affect the stock price or minority shareholders. Pawan Kumar Modi now becomes the single largest shareholder, while total promoter-group ownership remains unchanged.