The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Lotus Family Trust & Others
PRINCEPIPE · price
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Prince Pipes and Fittings disclosed five SAST Regulation 29(1) filings on June 19, 2025, covering transfers of 2,59,60,303 equity shares (23.46% of paid-up capital) from individual promoters to five newly formed family trusts. Specifically, Tarla Jayant Chheda transferred 52,00,000 shares (4.70%) to Lotus Family Trust; Parag Jayant Chheda transferred 83,04,121 shares (7.51%) to Sunflower Family Trust; and Vipul Jayant Chheda transferred 31,14,045 shares (2.82%), 51,90,076 shares (4.69%), and 41,52,061 shares (3.76%) to Ruby, Emerald, and Diamond Family Trusts respectively. All transfers were carried out without payment of consideration under a SEBI exemption order dated October 21, 2024, granted because the transfers are purely internal promoter-family succession planning. The total promoter and promoter group holding remains unchanged at 6,73,79,075 shares (60.94%), and public shareholding stays at 39.06%, with no change in overall control of the company.
This is a neutral, non-commercial internal restructuring within the promoter family and does not change the company's promoter shareholding, public float, or control structure. Retail investors should see no material impact on stock price or shareholder value, though it formalizes the Chheda family's succession plan through trusts.