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. Prabhadevi Sanghai, a promoter of Polo Queen Industrial and Fintech Ltd, has informed the stock exchanges about a proposed acquisition of equity shares by way of gift from three other promoters — Mr. Nihar Pawankumar Sanghai, Mr. Nikhil Sanghai, and Mr. Pawankumar Sanghai. A total of 2,92,08,875 shares (8.69% of existing share capital) will be transferred at nil consideration on or after June 19, 2025. As a result, Ms. Prabhadevi Sanghai's shareholding will rise from 10.01% (3,36,18,250 shares) to 18.71% (6,28,27,125 shares). The transaction is an inter-se transfer among promoters and is exempt from the open offer requirement under Regulation 10(1)(a)(ii).
Since this is a family-level inter-se gift transfer among promoters, the aggregate promoter and promoter group shareholding remains unchanged at around 39% — there is no change in total promoter control or any cash outflow. Shareholders should note no real economic impact on the company; the change is only in the internal distribution of promoter stakes.