Report under 10(7) of SEBI(SAST) Regulations, 2011
RMC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
RMC Switchgears promoter Ankit Agrawal acquired 8,45,700 equity shares (8.02% of share capital) through an off-market inter-se gift transfer on 19.02.2026. The shares came from his grandfather Vitthal Das Agarwal (94,800 shares, 0.90%) and Vitthal Das Agarwal HUF (7,50,900 shares, 7.12%), both part of the promoter/promoter group. The transaction was done without consideration (gift) and qualifies for exemption under Regulation 10(1)(a)(ii), meaning no open offer obligation was triggered. As a result, Ankit Agrawal's individual holding rose from 9.71% to 17.72%, while Vitthal Das Agarwal and his HUF exited to 0%. The aggregate promoter and promoter group holding remains unchanged before and after the transfer. A regulatory fee of Rs. 1,77,000 (including GST) was paid to SEBI.
This is a family-level reshuffling within the promoter group (grandfather gifting shares to grandson), so the total promoter holding in the company does not change. There is no impact on minority shareholders or stock price from this transaction, as no new entity has acquired control or voting power beyond what the promoter group already held.