R.P.P. Infra Projects Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
RPPINFRA · price
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R.P.P. Infra Projects has disclosed an inter-se transfer of 40,00,000 equity shares (8.07% of diluted share capital) among members of the promoter group, done by way of gift at nil price. Ms. N A Tharunya, an immediate relative of the promoters, received 20,000 shares from Mr. P. Arul Sundaram and 39,80,000 shares from Mrs. A. Nithya. Post-transfer, Ms. Tharunya's holding rises from 0.11% (54,157 shares) to 8.18% (40,54,157 shares), while Mr. Arul Sundaram moves from 15.53% to 15.49% and Ms. Nithya drops sharply from 15.53% to 7.50%. The company has clarified the transfer is part of family succession planning within the promoter group with no change in control.
There is no change in overall promoter group control or shareholding in the company since this is only an internal reshuffle among promoter family members. Shareholders should note that no money changed hands and no open offer is triggered, so this is largely a non-event for the stock price.