The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(i)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
NEOGEN · price
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Awaiting price reaction for this filing.
Dr. Harin Haridas Kanani, a promoter of Neogen Chemicals, acquired 13,38,250 equity shares (5.07% of paid-up capital) from his father Mr. Haridas Thakarshi Kanani (Promoter, Chairman & MD) by way of a gift through an off-market transaction on April 9, 2025. The acquisition price was Nil. Post-transaction, Dr. Harin Kanani's stake rose from 7.58% (20,00,000 shares) to 12.65% (33,38,250 shares), while Mr. Haridas Kanani's stake fell from 39.44% to 34.37%. The total promoter and promoter group holding remains unchanged at 51.23%, as this qualifies as an inter-se transfer under Regulation 10(1)(a)(ii) exempting it from the open offer requirement. SEBI fees of ₹1,77,000 were paid, and prior intimations under Reg 10(5) and 10(6) were duly filed.
This is a family-level reshuffle (father to son) within the promoter group, with no change in aggregate promoter holding or control. It is unlikely to have any material impact on the stock price, but it signals the next generation (Dr. Harin Kanani) is being groomed for a larger ownership role, with his stake now close to the 15% creeping acquisition threshold.