The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Milena Kedar Vaze & PACs
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.4 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Milena Kedar Vaze, a promoter group member, received 10,00,000 equity shares (0.72% of paid-up capital) as a gift from her spouse Kedar Vaze via an off-market inter-se transfer on December 22, 2025. Her individual holding rose from 0% to 0.72%, while the combined holding of other promoter and promoter group members correspondingly fell from 54.87% to 54.15%. The total promoter and promoter group shareholding remains unchanged at 54.87%, confirming this is a purely internal family reshuffle with no cash transaction. The disclosure notes that 43 lakh promoter group shares (3.11%) continue to be pledged, with no change reported.
Neutral for outside shareholders — the overall promoter group stake is unchanged at 54.87%, so there is no change in free float, controlling interest, or voting power. The transfer is a non-cash gift within the promoter family and is unlikely to influence share price or investor perception.