Disclosure under Regulation 10(5) of SEBI(SAST) REGULATIONS, 2011 - Ankit Agrawal
RMC · price
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Ankit Agrawal, a member of the promoter group of RMC Switchgears Ltd, has disclosed a proposed acquisition of 8,45,700 equity shares (8.02% of total share capital) under SEBI (SAST) Regulations. The shares are being received from Vitthal Das Agarwal HUF (7,50,900 shares, 7.12%) and Vitthal Das Agarwal (94,800 shares, 0.90%) through an off-market inter-se transfer by way of gift/distribution deed. As a result, Ankit Agrawal's individual holding will rise from 9.71% to 17.76%, while the aggregate promoter and promoter group holding remains unchanged. The transaction qualifies for exemption from open offer requirements under Regulation 10(1)(a)(ii) of SEBI (SAST) Regulations, 2011.
No impact on overall promoter group ownership or public shareholding pattern. The reshuffle consolidates more shares with Ankit Agrawal within the promoter family. Neutral for minority shareholders and likely no material effect on the stock price.