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 Manjuladevi Sanghai will receive 2,09,51,250 equity shares (6.24% of share capital) as a gift from fellow promoter Udit Sanghai in Polo Queen Industrial and Fintech Ltd. As a result, her shareholding will rise from 12.46% to 18.46%, while Udit Sanghai's holding will reduce to nil. The consideration is nil since this is a gift, and the transaction is exempt from the open offer requirement under Regulation 10(1)(a)(ii) as an inter-se transfer among promoters. The aggregate shareholding of the promoter and promoter group remains unchanged before and after the transfer.
This is a neutral, internal reshuffling within the promoter family with no change in total promoter control, so there is no direct impact on stock price or minority shareholders. No shares are being sold in the market, and no open offer obligation is triggered.