M. Ravindran 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.
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M. Ravindran, a promoter of Raj Television Network Limited, has disclosed a proposed inter-se transfer of 14,00,000 equity shares (2.6968% of share capital) from his wife R. Vijayalakshmi. The transaction is an off-market transfer within the promoter group and qualifies for exemption from open offer requirements under Regulation 10(1)(a)(i) of the SEBI (SAST) Regulations, 2011. M. Ravindran's holding will increase from 5,860,184 shares (11.288%) to 7,260,184 shares (13.985%), while R. Vijayalakshmi's holding will reduce from 30,00,400 shares (5.78%) to 16,00,400 shares (3.083%). The total promoter group holding remains unchanged as this is merely a reshuffle among family members.
This is an internal reshuffle within the promoter family and does not change the total promoter ownership of the company. No open offer is triggered, so there is no direct impact on minority shareholders or the stock price from a regulatory standpoint. The price for the transfer will be determined as per SEBI norms and will not exceed 25% above the 60-day VWAP.