The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(i)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Promoter Ashok Kumar Modi acquired 7,27,745 equity shares (13.16% of total share capital, 16.24% of voting capital) of National General Industries Ltd as a gift from his two sons, Madhur Modi and Vasu Modi, on 24-25 September 2025. The transfer was made under Regulation 10(1)(a)(i) of SEBI Takeover Regulations, which exempts inter-se transfers among immediate relatives from open offer requirements. As a result, Ashok Kumar Modi's stake rose from 4.91% to 18.07% of share capital (voting rights from 6.06% to 22.30%), while Madhur Modi and Vasu Modi fully exited their holdings of 6.65% and 6.51% respectively. Acquisition price was nil since the transfer was without consideration. SEBI filing fees of Rs. 1,77,000 have been paid, and prior gifts by Sangeeta Modi (2,70,976 shares) and Shakuntla Modi (78,810 shares) on 11 September 2025 indicate a broader family share reshuffle.
No change in total promoter group shareholding — this is purely a reshuffle within the Modi family, so there is no direct impact on the stock price or minority shareholders. Ashok Kumar Modi is now the single largest individual promoter, which consolidates decision-making within the family but does not alter the company's ownership structure or free float.