Prince Pipes And Fittings Limited has informed the Exchange regarding 'Disclosures received under Reg. 29(1) and 29(2) of the SEBI (SAST) Regulations, 2011'.
PRINCEPIPE · price
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The company has disclosed internal share transfers within its promoter group. Promoters Tarla, Parag, and Vipul Jayant Chheda transferred a total of 2,59,60,303 shares (about 23.48% of equity) to five family trusts: Lotus, Sunflower, Ruby, Emerald, and Diamond Family Trusts. Specifically, 52 lakh shares went to Lotus Trust, 83.04 lakh to Sunflower Trust, and Vipul Chheda's 1.24 crore shares were split across Ruby, Emerald, and Diamond Trusts. The transfers were carried out under a SEBI exemption order dated October 21, 2024, without any payment of consideration. Importantly, the aggregate promoter group shareholding remains unchanged at 6,73,79,075 shares or 60.94% of the company.
This is a purely internal family restructuring with no change in total promoter ownership or voting control, so it should not affect the stock price or minority shareholders. Investors should note that shares are now held through family trusts rather than individual names, which is common succession planning within promoter families.