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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Neelkanth Limited has informed BSE about a proposed inter-se transfer among its promoter group, involving up to 6,76,491 equity shares (15.52% of paid-up share capital), scheduled to execute on or after September 23, 2025. Seller Bhavik Rashmi Bhimjyani is transferring 3,49,566 shares (8.02%) to Rashmi C Bhimjyani as a gift and 3,26,925 shares (7.50%) to R T Agro Private Limited via open market at prevailing prices. The 60-day VWAP on BSE is around Rs. 48.76 per share. After the transfer, Rashmi C Bhimjyani's stake rises from 40.30% to 48.32%, R T Agro moves from 2.30% to 9.80%, while Bhavik's stake drops from 15.57% to just 0.05%. Aggregate promoter group shareholding remains unchanged at approximately 70.77%, so no open offer is triggered.
This is an internal reshuffle within the promoter family, so overall promoter control of the company stays the same and there is no open offer obligation. However, Rashmi C Bhimjyani is now positioned just below the 50% mark at 48.32%, which concentrates voting power more heavily in one individual. Retail investors should view this as neutral on the stock, since no new external buyer is coming in and no promoter is exiting the company.