The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Madhur Modi
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Madhur Modi, a promoter and member of the promoter group of National General Industries Ltd, has transferred his entire holding of 3,68,000 equity shares — equal to 6.65% of total share capital and 8.21% of voting capital — on 24th September 2025. The transfer was made off-market by way of a gift to immediate relatives, qualifying as an inter-se transfer under Regulation 10(1)(a)(i) of SEBI Takeover Regulations. After this transfer, Madhur Modi's individual holding has gone to zero. The company's total equity share capital remains unchanged at Rs. 5.53 crore (55,30,259 shares of Rs. 10 each). This is essentially an internal reshuffling within the promoter family and does not affect the overall promoter group's combined stake in the company.
No material impact on shareholder value or promoter group control — the shares remain within the family, so the overall promoter holding stays the same. Investors should note that one individual promoter (Madhur Modi) has fully exited his direct holding.