We hereby enclosed the information received from the Promoter/Promoter Group regarding their intention to acquire Equity shares of the Company through an interse transfer between promoter ....
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Awaiting price reaction for this filing.
Neelkanth Limited has informed BSE about a proposed inter-se transfer of 6,76,491 equity shares (15.52% of paid-up capital) among its promoter group, scheduled on or after September 23, 2025. The seller is Bhavik Rashmi Bhimjyani, whose stake will drop from 15.57% to just 0.05%. Of these shares, 3,49,566 shares (8.02%) will be transferred by way of a gift to Rashmi C Bhimjyani, whose individual holding will rise from 40.30% to 48.32%. The remaining 3,26,925 shares (7.50%) will be transferred to R T Agro Private Limited via open market at the prevailing price (60-day VWAP reference is Rs. 48.76 per share). The transaction qualifies as an exempt inter-se transfer under SEBI Takeover Regulations 10(1)(a)(i) and 10(1)(a)(ii), meaning no open offer obligation arises. The aggregate promoter group shareholding remains unchanged at roughly 70.77% of the company before and after the transaction.
No impact on overall promoter control since total promoter group holding stays the same, so this is essentially a reshuffle within the family. However, control is now more concentrated in Rashmi C Bhimjyani individually, and a small portion of shares will hit the open market, which may create mild supply pressure at around the Rs. 48-49 level.