The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Lotus Family Trust & Others

Prince Pipes and Fittings Ltd has disclosed an inter-se transfer of 2,59,60,303 equity shares (about 23.46% of paid-up capital) from three individual promoters — Tarla Jayant Chheda, Parag Jayant Chheda, and Vipul Jayant Chheda — to five family trusts they control: Lotus, Sunflower, Ruby, Emerald, and Diamond Family Trusts. The transfers are being carried out without any consideration purely as part of family succession planning, with the shares to be held in trust for the benefit of their lineal descendants. SEBI had pre-approved this transaction via an exemption order dated October 21, 2024, exempting the trusts from making an open offer under the Takeover Regulations, since the transfer would otherwise have triggered disclosure and control-acquisition rules. After the transfer, the total promoter and promoter group shareholding stays unchanged at roughly 60.94%, and public shareholding as well as minimum public shareholding norms remain unaffected.