Meena Jain, Chakresh Kumar Jain, Madhavi Jain and Ashita Jain has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Four promoter group members — Meena Jain, Chakresh Kumar Jain, Madhavi Jain, and Ashita Jain — have informed the exchanges about a proposed inter-se transfer of 1,96,08,000 equity shares (17.64% of share capital) from three promoter HUFs (Chakresh Kumar Jain HUF, Pradeep Kumar Jain HUF, and Yogesh Kumar Jain HUF). The transfer is being done without any consideration (NIL price) pursuant to a partition of the Transferor HUFs, and is exempt from open offer requirements under Regulation 10(1)(a)(ii) of SEBI Takeover Regulations. The reference 60-day VWAMP is INR 234.80 per share. The acquisition is expected to take place on or after March 11, 2026. After the transfer, the aggregate promoter group holding remains unchanged at around 56.07%, with individual holdings shifting between HUF accounts and personal accounts.
This is a purely internal family restructuring with no cash transaction, so there is no direct impact on the stock price or the overall promoter shareholding in the company. Shareholders need not worry about any change in control or dilution — it is just a reshuffle within the promoter family.