The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vasu Modi
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Vasu Modi, a promoter of National General Industries Ltd, disclosed a transfer of 3,59,745 equity shares (6.51% of total share capital and 8.03% of voting capital) on 25th September 2025 under SEBI SAST Regulation 29(2). The shares were transferred off-market by way of gift among immediate relatives, which is exempt from open offer requirements under Regulation 10(1)(a)(i) of the Takeover Regulations. Post-transfer, Vasu Modi's individual holding in the company has reduced to zero from 6.51% earlier. The company's total equity share capital remains unchanged at 55,30,259 shares of Rs. 10 each. Since the transfer is among immediate relatives within the promoter group, the overall promoter group shareholding in the company remains unaffected.
This is a family-level reshuffle within the promoter group and not a market sale, so there is no direct impact on stock price or dilution for public shareholders. Existing retail investors should note that promoter group control and ownership in the company stays the same overall.