The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Pawan Kumar Modi, a member of the promoter group of National General Industries Limited, has informed the BSE of a proposed acquisition of 3,49,786 equity shares (6.32% of total share capital) by way of a gift (without any consideration). The shares are being transferred from Sangeeta Modi (brother's wife, 2,70,976 shares) and Shakuntala Modi (mother, 78,810 shares) to Pawan Kumar Modi as an inter-se transfer among immediate relatives. As a result, Pawan Kumar Modi's individual holding in the company will increase from 2,71,770 shares (4.91%) to 6,21,556 shares (11.24%). The transfer is exempt from making an open offer under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011, and is expected to take place on or after 9th September 2025. Annual disclosures under Regulation 31(4) for FY2023, FY2024, and FY2025 are attached, showing the promoter group holding steady at 36,28,902 shares with no encumbrances.
This is a purely internal reshuffle among promoter family members via a gift, so there is no change in overall promoter group ownership and no cash transaction is involved. Retail shareholders need not be concerned — it does not affect company control, promoter shareholding percentage, or market float, and no open offer is triggered.