The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sat Paul Bansal & PACs

Sarita Rani Bansal has transferred 4,80,540 equity shares (15.58% of voting capital) of Paul Merchants Ltd to Sat Paul Bansal, an existing promoter and her immediate relative, through an off-market inter-se transfer by way of gift on September 15, 2025. After the transfer, Sat Paul Bansal's individual holding rises from 2.46% (75,720 shares) to 18.04% (5,56,260 shares), while Sarita Rani Bansal's holding drops from 33.62% to 18.04%. The combined promoter group holding remains unchanged at 74.65% of the company, as this is a reshuffle within the promoter family exempt under Regulation 10(1)(a)(i) of SEBI SAST Regulations. No encumbrance or pledge changes were reported.