Neogen Chemicals Limited has informed the Exchange about Discloure received under regulation 10(6) of SEBI SAST Regulations, 2011 from Dr. Harin Haridas Kanani (Promoter of the Company).
NEOGEN · price
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Dr. Harin Haridas Kanani, Promoter and Managing Director of Neogen Chemicals, received 13,38,250 equity shares (5.07% of paid-up capital) as a gift from Mr. Haridas Thakarshi Kanani, Promoter Chairman and Managing Director, via an off-market transaction on April 9, 2025. Since both parties are immediate relatives and qualifying promoters for over three years, the transfer qualifies for exemption under Regulation 10(1)(a)(ii) of SEBI Takeover Regulations. As a result, Dr. Harin Kanani's holding rose from 7.58% (20 lakh shares) to 12.65% (33.38 lakh shares), while Mr. Haridas Kanani's holding dropped from 39.44% (1.04 crore shares) to 34.37% (90.67 lakh shares). The aggregate promoter and promoter group holding remains unchanged before and after the transfer, and no cash was exchanged.
This is an internal family reshuffling among promoters with no impact on total promoter ownership or voting power — purely a non-event for retail shareholders and the stock price.