BSEPalco Metals LtdMediumNeutral
Announced Mon, 1 Sept · 14:32 IST

Disclosure under 29(2) of SEBI LODR (Substantial Acquisition of Shares and Takeover ) Regulations,2011

Promoter Stake BuyPromoter Stake Sell 1pctOwnership Changes View source PDF

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Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Lalit Kumar Naredi, a member of the promoter group, sold 180,000 equity shares (4.50% of paid-up capital) to Manju Naredi, the brother’s wife of a director and part of the promoter group. The transfer was an off-market transaction done via Gift Deed on 28/08/2024, done after market closing hours. Before the transfer, Lalit Kumar Naredi held 4.50% and Manju Naredi held 0%; after the transfer, Manju Naredi holds 4.50% and Lalit Kumar Naredi holds 0%. The combined promoter group holding remains unchanged at 9.25% (370,000 shares of the 40 lakh total equity). No open-market trading was involved, and total share capital stayed the same.

Likely market impact

This is an internal reshuffle within the promoter family and does not change the total promoter ownership in the company. Shareholders should see no impact on share price or promoter control, as it is merely a gift between relatives within the promoter group.