The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashok Modi
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Promoter Ashok Kumar Modi has transferred 9,99,515 equity shares (22.30% of total share capital) of National General Industries Ltd to Pawan Kumar Modi, another member of the promoter group and immediate relative, by way of an off-market gift on 8th June 2026. Before the transfer, Ashok Kumar Modi held 9,99,515 shares (22.30%), and after the transfer his holding stands at zero. The shares were received by Pawan Kumar Modi, who is also part of the promoter group. The total equity share capital of the company remains unchanged at Rs. 4,48,26,590 (44,82,659 shares of Rs. 10 each). This transaction qualifies as an inter-se transfer among immediate relatives and is exempt under Regulation 10(1)(a)(i) of the Takeover Regulations, so no open offer obligation is triggered.
This is an internal reshuffling of promoter-family holdings with no change in total promoter stake, so it has no material impact on shareholders or the stock price. Shareholders should note that ownership within the promoter group has been reallocated, but overall control and voting power remain with the promoter family.