The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashok Kumar Modi
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Ashok Kumar Modi, a promoter of National General Industries Ltd, acquired 7,27,745 equity shares (13.16% of total share capital and 16.24% of voting capital) by way of gift from immediate relatives. The shares were received in two tranches — 3,68,000 shares from Madhur Modi on 24 September 2025 and 3,59,745 shares from Vasu Modi on 25 September 2025 — through an off-market inter-se transfer exempt under Regulation 10(1)(a)(i). After this transfer, his individual holding rose from 4.91% to 18.07% of total share capital (22.30% of voting capital). The total shareholding pattern of the company remains unchanged as the shares simply moved within the promoter family.
This is an internal reshuffle within the promoter family with no change in total promoter holding or voting power, so it has no material impact on minority shareholders or the stock price. Existing shareholders should note that ownership concentration among family members has shifted toward Ashok Kumar Modi.