�LOTUS FAMILY TRUST,�SUNFLOWER FAMILY TRUST,RUBY FAMILY TRUST,EMERALD FAMILY TRUST & DIAMOND FAMILY TRUST�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.
PRINCEPIPE · price
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Awaiting price reaction for this filing.
Five family trusts (Sunflower, Ruby, Emerald, Diamond, and Lotus) have informed the exchanges of their plan to acquire a total of about 2.60 crore equity shares (roughly 23.46% of share capital) of Prince Pipes and Fittings from promoter family members — Mr. Parag Chheda, Mr. Vipul Chheda, and Mrs. Tarla Chheda — on June 19, 2025. The transactions will be carried out at nil consideration as inter-se transfers within the promoter group, and SEBI has granted an exemption from the open offer requirement under Regulation 11(5) of the Takeover Regulations. The stated purpose is internal succession planning for the benefit of the promoters' lineal descendants, with the total promoter and PAC holding remaining unchanged at 60.94% before and after the transfer.
This is a purely internal reshuffle of the promoter family's shareholding into family trusts, with no change in ultimate promoter control, no cash outflow, and no open offer triggered — so it should have no meaningful impact on the stock price or minority shareholders.