The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Promoter Sat Paul Bansal will receive 4,80,540 equity shares (15.58% of paid-up capital) of Paul Merchants Ltd as a gift from his wife Sarita Rani Bansal, who is also part of the promoter group. The transfer is scheduled for September 15, 2025, at nil consideration (reference 60-day VWAMP is Rs. 765.05 per share). After the transfer, Sat Paul Bansal's individual stake jumps from 2.46% to 18.04%, while Sarita Rani Bansal's holding drops from 33.62% to 18.04%. The total promoter group shareholding stays flat at 74.65%, since the transaction is an internal reshuffle between spouses and persons acting in concert (Rajneesh Bansal and Paul Excursions Pvt Ltd). The filing is made under Regulation 10(1)(a) of SEBI Takeover Rules, which exempts inter se promoter transfers from the open offer requirement.
No change in overall promoter control or public shareholding — purely an internal family reallocation. No open offer triggered, no cash leaves the company, and minority shareholders are unaffected.