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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Ms. Ushadevi Sanghai, a promoter of Polo Queen Industrial and Fintech Ltd, will receive 16,88,000 equity shares (0.50% of the existing share capital) as a gift from another promoter, Mr. Nandlal Sanghai, on or after June 19, 2025. The consideration is nil as this is a gift transaction. Ushadevi's holding will rise from 4.88% (1,63,77,250 shares) to 5.38% (1,80,65,250 shares), while Nandlal's holding will go from 0.50% to nil. The transaction is an inter-se transfer between promoters named in the shareholding pattern for over three years and is exempt from the open offer requirement under Regulation 10(1)(a)(i). The aggregate promoter group shareholding remains unchanged.
No material impact on the stock price is expected since shares are merely reshuffled within the promoter family at zero consideration, and overall promoter ownership stays the same. Retail investors should note that the acquirer's individual stake crosses the 5% mark, though the exemption keeps the transaction outside the takeover code's open offer trigger.